The European Union has approved a new set of sanctions against Russia over its war in Ukraine.
The measures termed ‘18th package’ include lowering the oil price cap from $60 to $45 per barrel, banning transactions with the Nord Stream gas pipelines, and targeting more vessels associated with Russia’s shadow fleet, report agencies.
Further restrictions were imposed on Russia’s banking sector, with two Chinese banks added to the sanctions list. These steps are intended to restrict Russia’s financial transactions and access to funds.
The sanctions come as European countries begin buying more US weapons for Ukraine.
EU foreign policy chief Kaja Kallas said the package is one of the strongest yet and reflects the bloc’s continued support for Ukraine. She said the EU would keep increasing pressure until Russia ends the war, which is now in its fourth year.
Ukraine’s new Prime Minister Yulia Svyrydenko welcomed the sanctions, calling them an effective tool to intensify pressure on Russia. She added that further action was still needed to help bring an end to the conflict.
French President Emmanuel Macron said he had spoken to Ukrainian President Volodymyr Zelenskyy and welcomed the new measures.
German Chancellor Friedrich Merz also backed the package, stating it would weaken Russia’s ability to fund the war by targeting banks, the energy sector, and the military industry.
In response, Kremlin spokesman Dmitry Peskov claimed Russia has adapted to Western sanctions and described the new measures as illegal. He said each new restriction also harms the economies of the countries enforcing them.
The EU has imposed multiple rounds of sanctions on Russia since the invasion of Ukraine began in February 2022.
Internal disagreements are however growing. Slovakia delayed the latest package due to its reliance on Russian gas, highlighting the economic strain some member states face as the sanctions expand.
Meanwhile, US President Donald Trump confirmed the weapons deal and threatened to impose high tariffs on Russia unless a peace agreement is reached within 50 days.