European Union Excessive Consultant for International Affairs and Safety Coverage Kaja Kallas. File
| Photograph Credit score: Reuters
EU international locations on Friday (July 18, 2025) signed off on a new package of sanctions on Russia over the war in Ukraine, together with decreasing a worth cap on Moscow’s oil exports.
The 18th spherical of financial sanctions towards Russia since its 2022 invasion was accredited after Slovakia dropped a weeks-long block following talks with Brussels over separate plans to section out Russian gasoline imports.
“The EU simply accredited certainly one of its strongest sanctions packages towards Russia thus far,” EU International Coverage chief Kaja Kallas mentioned.
“Every sanction weakens Russia’s skill to wage warfare. The message is evident: Europe won’t again down in its help for Ukraine. The EU will preserve elevating the stress till Russia ends its warfare.”
Additionally Learn | Indian companies added to list as U.K., EU announce new Russia-related sanctions
Slovakia’s Russia-friendly chief, Robert Fico, dropped his Opposition after getting what he referred to as “ensures” from Brussels over gasoline costs because the bloc pushes to chop off Russian imports by the tip of 2027.
As a part of the brand new sanctions designed to sap Russia’s warfare chest, diplomats mentioned the EU has agreed to decrease its worth cap on Russian oil exported to 3rd international locations all over the world to fifteen% under market worth.
That comes regardless of EU allies failing to persuade U.S. President Donald Trump to go together with the plan.
The cap is a G7 initiative aimed toward limiting the amount of cash Russia makes by exporting oil to international locations throughout the globe resembling China and India.
The oil worth cap, set at $60 by the G7 in 2022, is designed to restrict the worth Moscow can promote oil all over the world by banning transport corporations and insurance coverage corporations coping with Russia to export above that quantity.
Beneath the brand new EU scheme — which is predicted to get the backing of G7 allies like Britain and Canada — the brand new stage will begin off at $47.6 and could be adjusted as oil costs change sooner or later.
In adddition, officers mentioned the EU is blacklisting over 100 extra extra vessels within the “shadow fleet” of ageing tankers utilized by Russia to avoid oil export curbs.
There are additionally measures to cease the defunct Baltic Sea gasoline pipelines Nord Stream 1 and a pair of from being introduced again on-line.
Amongst different targets, sanctions shall be positioned on a Russian-owned oil refinery in India and two Chinese language banks because the EU seeks to curb Moscow’s ties with worldwide companions.
There’s a additionally an expanded transaction ban on dealings with Russian banks and extra restrictions on the export of “dual-use” items that might be used on the battlefield in Ukraine.
The brand new sanctions shall be formally adopted by EU ministers afterward Friday.
Printed – July 18, 2025 12:21 pm IST
