US EditionEU envoys near agreement on lower Russian oil price cap: Report
BRUSSELS, BELGIUM, JUL 15 – Czech Prime Minister warns Slovakia it risks isolation over blocking a sanctions package that includes a $47 oil price cap aimed at reducing Russian energy revenues.
- EU envoys are close to finalizing the 18th sanctions package against Russia, including a new lower price cap on Russian oil, on July 15, 2025.
- Slovakia has halted approval of the sanctions package as it awaits guarantees from the European Commission regarding the gradual discontinuation of Russian natural gas deliveries to European countries.
- The proposed sanctions package includes a dynamic oil price cap initially set at $47 per barrel, to be revised every six months, with all other elements settled except one technical reservation.
- Reuters cited four anonymous EU sources confirming that a foreign ministers' meeting on July 15 could formally adopt the package requiring unanimity and targeting financial channels circumventing sanctions.
- If approved, the sanctions would tighten pressure on Russia's energy revenues, though Slovakia seeks a compromise and some Mediterranean states express reservations about the price cap mechanism.
34 Articles
34 Articles
At the meeting of EU foreign ministers, the 18th package of sanctions against Russia should be decided. But one country is cross-cutting. The financing of the "patriot" systems for Ukraine is also open. By Helga Schmidt.
Why Malta is objecting to a new price cap on Russian oil
Malta’s objection to a fresh round of EU sanctions on Russian oil is sparked by fears the move could trigger an exodus of ships from the bloc’s flag registries, shipping experts say.An initial set of sanctions on Russia, introduced in December 2022 and agreed upon by the G7, set a price cap of $60 per...
Kaja Kallas is optimistic about the imminent adoption of new measures, including a cap on the price of Russian oil, despite initial reluctance on the part of some Member States.
EU High Representative for Foreign Affairs Kaja Kallas said they are "very close" to an agreement on sanctions against Russia.
Slovakia and Malta still do not support the adoption of the 18th package of European Union sanctions against Russia, a European diplomat told the Ukrainian portal European Justice.
EU expected to agree on new Moscow sanctions, Russian oil price cap, Reuters reports
The EU is close to reaching a full agreement on its 18th sanctions package against Moscow, which will include a new Russian oil price cap, Reuters reported on July 13, citing four sources within the bloc.
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