The approved measures restrict Russian banks’ access to transactions, target 105 “shadow fleet” ships used to evade sanctions and ban any transactions related to the Nord Stream pipelines.
Most significantly, diplomats also approved a dynamic price cap on Russian oil set 15 percent below the average market price of Russian crude, effectively lowering the cap from $60 per barrel, to about $47.6.
The latest package of Russia sanctions, the 18th for the EU since Russia launched its full-scale invasion of Ukraine in 2022, was proposed a month ago but stalled by Slovakia, which demanded Brussels drop its separate plan to phase out Russian gas to lift the veto.
After weeks of negotiations and mounting public pressure on Bratislava, Fico signaled Thursday evening that he would drop his veto in exchange for obtaining written guarantees from the Commission this week to mitigate potential energy price spikes and shortages — but the gas phase-out plan appears to proceed.
“The EU paved the way. Now it’s time for perfect storm — the U.S. Senate to vote on that Russia sanctions bill imposing crushing burdens on Russian economy and those fueling Russia’s war of aggression,” Lithuanian Foreign Minister Kęstutis Budrys wrote on X.
U.S. President Donald Trump recently indicated that he is ready to sign a Russia sanctions bill imposing tariffs on countries that buy Russian oil and uranium — but he then provided the Kremlin with a 50-day ultimatum to end its war on Ukraine.
Gabriel Gavin contributed to this report.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
