The EU has approved an 18th package of sanctions against Russia, targeting the export price of Russian oil, according to diplomatic sources.
A diplomat in Brussels confirmed the news after a meeting of EU ambassadors on Friday morning.
“We now have an agreement on a strong and effective 18th package of sanctions against Russia.”
These new measures aim to exert further economic pressure on Russia amidst its ongoing conflict with Ukraine.
The decision reflects the EU’s continued commitment to opposing Russia’s actions in Ukraine.
EU Members States were only able to agree after Slovak Prime Minister Robert Fico caved in to lift his veto.
European Commission Vice-President Kaja Kallas posted a message on X outlining the sanctions package.
"We remain firm. The EU has just approved one of its toughest sanctions packages against Russia to date. We are further reducing the Kremlin's war budget, targeting 105 additional ships in the ghost fleet and their facilitators, and restricting Russian banks' access to financing.‘
"The Nord Stream gas pipelines will be banned. The price of oil will be capped at a lower level. We are increasing pressure on the Russian military industry, on Chinese banks that enable sanctions to be circumvented, and we are blocking exports of technology used in drones."
For the first time, the EU is also designating a flag register and Rosneft's largest refinery in India. The sanctions also target those who indoctrinate Ukrainian children. |We will continue to increase the costs so that ending the aggression becomes the only option for Moscow."
Formal approval will follow later today at the General Affairs Council meeting.
