EU Agrees to 'Unprecedented' Sanctions on Russian Oil Exports
The EU agreed to a new, "unprecedented" sanctions package against Russia over its war in Ukraine. The 18th round of measures targets Moscow’s oil and energy sector by lowering the oil price cap and blacklisting over 100 vessels, according to a report by France24.
By Kamaran Aziz
ERBIL (Kurdistan 24) — The European Union on Friday agreed to what France’s top diplomat described as an "unprecedented" new package of sanctions against Russia, specifically designed to cripple Moscow's vital oil and energy exports over its ongoing war in Ukraine, France24 reported.
The 18th round of economic sanctions since Russia's 2022 invasion was approved after Slovakia dropped a weeks-long block on the measures. According to France24, Slovakia's leader, Robert Fico, relented after receiving what he called "guarantees" from Brussels over separate plans to phase out Russian gas imports.
"The EU just approved one of its strongest sanctions packages against Russia to date," EU foreign policy chief Kaja Kallas said, as cited in the report. "The message is clear: Europe will not back down in its support for Ukraine. The EU will keep raising the pressure until Russia ends its war."
France24 also cited French Foreign Minister Jean-Noël Barrot, who stated on the social media platform X that "together with the United States we will force (Russian President) Vladimir Putin into a ceasefire."
According to the report, a central part of the new sanctions is an agreement to lower the G7 price cap on Russian oil exported to third countries to 15 percent below market value. The new level will reportedly start at $47.6 and can be adjusted in the future.
France24 noted that this move comes despite EU allies failing to convince US President Donald Trump to go along with the plan.
In addition to the oil price cap, the EU is reportedly blacklisting over 100 more vessels in the "shadow fleet" of tankers Russia uses to bypass export curbs. The package also includes measures to stop the defunct Nord Stream 1 and 2 gas pipelines from being reactivated.
France24 reported that other targets include a Russian-owned oil refinery in India and two Chinese banks, as the EU aims to curb Moscow's international partnerships.
The measures are rounded out by an expanded transaction ban on dealings with Russian banks and more restrictions on the export of "dual-use" goods that could be used on the battlefield.
The new sanctions are set to be formally adopted by EU ministers later on Friday, the report concluded.
