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EU to Target Nord Stream and Russian Oil Cap in New Sanctions
- On Tuesday, the European Union introduced its 18th set of sanctions targeting Russia with the goal of securing a 30-day ceasefire in Ukraine.
- The proposal follows ongoing diplomatic efforts and requires unanimous approval from all 27 EU member states, amid resistance from Slovakia and Hungary.
- The sanctions would lower the current $60 per barrel price cap on Russian crude to $45 and ban transactions involving the Nord Stream pipelines and certain banks.
- The head of the European Commission emphasized that only demonstrating strength would be effective in dealing with Russia, highlighting the importance of reducing Russia’s income from energy exports.
- The new sanctions aim to further reduce Moscow's military and economic capabilities, though political divisions suggest complex approval and implementation ahead.
65 Articles
65 Articles
Strategic Sanctions And Energy Diplomacy: The European Union’s Renewed Measures Against Russia – Analysis
The European Union (EU), in its evolving response to Russia's ongoing aggression against Ukraine, has recently unveiled a new package of sanctions that reflects a broader strategy of economic containment. Central to these measures are proposals to ban all transactions associated with the Nord Stream gas pipelines and to further limit Russia's oil revenue by...
The European Union is preparing to introduce the 18th package of sanctions against Russia. For its effectiveness, restrictions must be applied by all partners.
EU unveils 18th sanction package against Russia
The European Commission (EC) unveiled its 18th sanctions package against Russia in a press conference on Tuesday, targeting exports, revenue streams, and lowering the price cap on Russian oil. The EU said this package serves to increase pressure on Russia in light of its ongoing war with Ukraine. At the press conference, EU Foreign Policy Chief Kaja Kallas said that the current EU sanctions on Russia have been working, citing that the nation has…
The European Union will stop importing refined products made from Russian crude oil and demand a lower price cap on Russian fossil fuels if member states approve the 18th sanctions package presented by the European Commission on Tuesday.
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