US EditionThe EU targets Russia's energy revenue and shadow fleet with new sanctions over Ukraine war
- On Friday, EU envoys agreed on a new floating oil price cap set at 15% below market value, diplomats said.
- Previously, G7 set a $60 oil price cap, now the new floating mechanism starts at $47.6 per barrel, aiming to limit Russia's oil revenues, as per the key elements of the sanctions package.
- In addition to oil pricing, officials said over 100 vessels in Russia’s shadow fleet will be blacklisted, along with a Russian-owned refinery in India and two Chinese banks.
- Reactions rolled in as Kaja Kallas called it “one of its strongest sanctions packages against Russia to date” while Robert Fico dropped his blockade after securing gas price guarantees from Brussels.
- Following the envoys' agreement, and the package is expected to be formally ratified by EU ministers later in the day with minor adjustments possible, the diesel and refined fuels markets are already showing signs of tightening.
222 Articles
222 Articles
New sanctions from EU and UK target Russia's energy sector and military intelligence
The European Union and Britain on Friday ramped up pressure on Russia over its war on Ukraine, targeting Moscow's energy sector, shadow fleet of aging oil tankers and military intelligence service with new sanctions.
The ambassadors of the European Union approved the 18th package of unilateral restrictive measures against Russia in the context of the conflict in Ukraine, despite the fact that the thousands of previous sanctions failed to implode the economy of the Slavic giant and, instead, contracted productive activity and caused socio-political instability in a group of 27 countries. READ ALSO: Russia considers that the current escalation in Syria "is not…
Russia Condemns EU’s 18th Sanctions Package as Illegitimate - teleSUR English
The new sanctions specifically target Russia’s energy and financial sectors, as well as the so-called ‘shadow fleet.’ On Friday, Russian presidential spokesman Dmitry Peskov denounced the European Union’s 18th package of sanctions against his country as illegitimate. RELATED: Trump’s Shifting Stance on Russia-Ukraine War Sparks Confusion “We need to analyze the new package to minimize its consequences. At the same time, of course, we’ve already …
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