The European Union has announced a new package of sanctions against Russia, targeting the country’s ability to make money from its oil and gas production. The 18th set of sanctions since Russia launched its full-scale invasion of Ukraine in 2022 aim to further restrict Moscow’s access to global energy markets.
The proposal includes lowering the price cap on Russian oil exports from $60 to $45 per barrel, banning Russian banks’ transactions with EU operators, and preventing financial institutions in third countries from helping Russia circumvent existing sanctions.
The EU wants to cut off a key source of revenue for the Kremlin by targeting its oil exports, which still represent one-third of Russia’s government revenues. The price cap has been lowered due to falling global oil prices, but the bloc aims to harden sanctions on Russia’s banking sector further.
“We need to make sure that Russia does not find ways to modernize its weapons with European technologies,” said EU Commission chief Ursula von der Leyen. The new package also includes measures against Russian and foreign companies providing direct or indirect support to Russia’s military and industrial complex.
The move is seen as a response to Russia’s continued aggressive actions in Ukraine, which have resulted in thousands of deaths and widespread destruction. The European Union has proposed a ban on the use of Russian energy infrastructure, forbidding EU operators from engaging directly or indirectly in transactions involving the Nord Stream pipelines.
Ukraine’s President Volodymyr Zelensky welcomed the new sanctions package, saying it was an “important step” towards pressuring Russia to end its aggression. However, some European countries have expressed concerns about further sanctions targeting Russia, citing economic concerns and potential backlash from Moscow.
Source: https://edition.cnn.com/2025/06/10/world/europe-new-sanctions-russia-strength-intl