The European Union has already presented an 18th package of sanctions against Russia last month, which responds to its invasion of Ukraine. These restrictions aim to hit Russian revenues from the energy sector, financial institutions and the arms industry.
We're firm. The EU has just approved 1 of Russia's harshest sanctions packages so far. We are cutting the Kremlin's war budget even more, chasing 105 more shadow fleet ships, their operators and limiting Russian banks' access to finance – Kallas wrote on X.
The fresh sanction package covers various areas of the Russian economy, including the energy and financial sectors. It introduces additional restrictions on companies related to the Nord Stream pipeline, which aims to reduce Russian revenues from this transmission route.
Price of crude oil and others
One of the most disputed points of discussion was the proposal to reduce the maximum price of oil. Under the current mechanism, companies are prohibited from transporting and insuring Russian oil if its price exceeds the set ceiling on global markets. So far, this limit was $60 per barrel, but is to be lowered to $47.60.
But it's not over. 22 Russian financial institutions have been disconnected from the SWIFT system, which is intended to make Moscow hard to operate in the global payment system. The list of vessels sanctioned for their participation in Russian oil transport has besides been extended – 105 tankers have been added to previously identified 342 units, which is intended to limit the operation of the alleged shadow fleet. Furthermore, the Union tightened export restrictions, including further equipment and materials that could support the Russian arms industry, including drone and rocket parts. Sanctions were besides imposed on 22 fresh entities, both from Russia and beyond, accused of participating in supplies for the Russian defence sector.
Source: X
