The EU has agreed a powerful new sanctions package against Russia, marking the 18th round of measures since Moscow’s invasion of Ukraine in 2022.
Approved after weeks of negotiations, the move includes tougher restrictions on Russian oil exports and further efforts to cut economic ties with the Kremlin.
A key feature of the sanctions is a reduction in the oil price cap on Russian exports to non-EU countries.
Originally set at $60 per barrel by the G7, the cap will now fall to $47.60 — 15% below market value — in an effort to slash Russia’s oil revenue.
This measure targets exports to countries like China and India and aims to limit Russia's ability to fund its war effort.
These sanctions are part of a broader EU-G7 initiative to prevent Russia from profiting from global energy sales.
To enforce the cap, European firms providing shipping or insurance services will be banned from facilitating Russian oil exports above the set price.
The package also blacklists over 100 vessels in Russia’s so-called "shadow fleet" — ageing tankers used to sidestep international oil sanctions.
Officials are also moving to permanently disable the Nord Stream 1 and 2 pipelines in the Baltic Sea, preventing any potential revival of Russian gas supplies via these routes.
Slovakia had initially blocked the deal but dropped its opposition after receiving assurances from Brussels about gas prices and supply security.
The EU remains committed to ending Russian gas imports by 2027.
Additional sanctions target a Russian-owned oil refinery in India, two Chinese banks aiding Russian trade, and further tighten restrictions on dual-use goods — items with potential military applications.
An expanded transaction ban on Russian financial institutions is also included.
EU foreign policy chief Kaja Kallas described the package as one of the EU’s strongest yet.
“Each sanction weakens Russia’s ability to wage war,” she said. “Europe will not back down in its support for Ukraine.”
The measures will be formally adopted by EU ministers later today.
