European Commission announces 18th sanctions package against Russia

Reuters
Reuters

The European Commission has announced its 18th sanctions package targeting Russia, focusing on cutting Moscow’s energy revenues and limiting its military capabilities.

On Tuesday, European Commission President Ursula von der Leyen unveiled the latest, 18th set of sanctions against Russia in response to its invasion of Ukraine. The new measures aim to restrict Russia’s energy income and military industry by banning transactions related to the Nord Stream gas pipelines and targeting banks involved in evading sanctions. Additionally, the Commission proposed lowering the G7 price cap on Russian crude oil from $60 to $45 per barrel. The package also includes expanding the list of vessels in Russia’s shadow fleet and oil trading firms under scrutiny. EU member states will begin discussions on this proposal this week.

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