EU hits Russian oil, shadow fleet with new sanctions over Ukraine war
Summary
The European Union has approved new sanctions against Russia in response to its ongoing war in Ukraine. These measures include lowering the cap on Russian oil prices, banning transactions involving Nord Stream gas pipelines, and targeting Russian ships. The EU aims to increase pressure on Russia to end the conflict.Key Facts
- The EU has implemented new sanctions to pressure Russia over its war in Ukraine.
- Sanctions include reducing the oil price cap from $60 to $45 per barrel.
- Transactions with Nord Stream gas pipelines are banned to cut off potential revenue for Russia.
- Additional Russian ships are targeted under these new measures.
- The EU's decision marks its 18th package of sanctions against Russia since February 2022.
- The EU is seeking to involve major international powers in supporting the oil price cap.
- Obstacles have arisen because of increased oil prices due to Middle East conflicts and lack of US support.
- Slovakia initially delayed the sanctions over concerns about Russian gas supply disruptions.
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