The European Union has adopted a new round of sanctions against Russia, targeting its energy and banking industries without the support of the US. The 27-nation bloc also approved a plan to lower the price cap on Russian crude oil, set at $60 per barrel since late 2022.
European officials say the measures have depleted Russia’s coffers and slowed its war effort in Ukraine. However, Kremlin spokesman Dmitry Peskov described the sanctions as unlawful and expressed concern about Europe’s “consistent anti-Russian line.”
The price cap, initially introduced by the Group of Seven nations, aims to curb Moscow’s revenue from exporting oil to other countries. The E.U.’s efforts were stalled earlier due to internal opposition from some member states but appear to have gained momentum with President Donald Trump threatening economic consequences on Russia if the war in Ukraine continues.
The new sanctions package includes restrictions on imports of refined petroleum products made from Russian crude oil, targeting an additional 105 ships suspected of belonging to Russia’s “shadow fleet.” This move is seen as a response to Russia’s violent strikes against Ukrainian cities and villages.
Source: https://www.washingtonpost.com/world/2025/07/18/eu-russia-sanctions-18th-round-energy-banking