The European Union on Friday approved its 18th package of sanctions against Russia in response to the ongoing war in Ukraine, tightening restrictions on Moscow’s oil exports and expanding economic pressure on key sectors of its economy.
The new measures among the most extensive to date , include a reduction in the price cap on Russian oil exports to third countries, additional blacklisting of shipping vessels, and sanctions targeting international networks seen as helping Moscow circumvent existing restrictions.
“The EU just approved one of its strongest sanctions packages against Russia to date,” said EU foreign policy chief Kaja Kallas. “Each sanction weakens Russia’s ability to wage war. The message is clear: Europe will not back down in its support for Ukraine.”
The package, which had been delayed for weeks, was finalized after Slovakia dropped its opposition. Slovak Prime Minister Robert Fico, a known Russia-friendly figure, lifted the block following assurances from Brussels over energy security and gas pricing. The EU aims to phase out Russian gas imports entirely by 2027.
At the heart of the new sanctions is a revised oil price cap. Under the updated rules, the EU has agreed to lower the cap on Russian oil exported to non-EU countries to 15 percent below market value, a move designed to shrink Russia’s oil revenue. The new cap, starting at $47.60 per barrel, will replace the $60 ceiling introduced by the G7 in 2022 and will be adjusted over time as global prices fluctuate.
Although the U.S., under President Donald Trump, has not yet committed to the revised cap, the EU expects backing from other G7 partners, including the United Kingdom and Canada.
Diplomats also confirmed the blacklisting of over 100 additional vessels in Russia’s so-called “shadow fleet” were older tankers used to skirt sanctions and deploy new measures to permanently disable the Nord Stream 1 and 2 gas pipelines, which have remained dormant since being damaged in 2022.
The sanctions extend further to include: A Russian-owned oil refinery operating in India, Two Chinese banks linked to transactions with Russian entities, Expanded bans on exports of dual-use goods with potential military applications and Tighter restrictions on financial transactions with Russian banks.
The new package underscores the EU’s continued commitment to Ukraine as the war approaches its fourth year. The sanctions will be formally adopted by EU ministers later today.
