This is reported by Kyiv24
Ambassadors of the European Union have agreed on the 18th sanctions package against the Russian Federation. According to information, official approval of this decision is expected soon. The new package of restrictions includes enhanced measures aimed at limiting the financing of the Kremlin’s military operations, as well as countering sanctions evasion schemes through the “shadow fleet.”
Key Points of the Sanctions Package
According to EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, the new package is one of the most powerful among all previously adopted. It includes a sharp reduction in the Kremlin’s military budget, the pursuit of 105 vessels belonging to the so-called “shadow fleet” and their accomplices, as well as significant restrictions for Russian banks regarding access to international financing.
“We are further reducing the Kremlin’s military budget, pursuing another 105 ships of the shadow fleet, their accomplices, and restricting Russian banks’ access to financing. The Nord Stream pipelines will be banned. The upper price limit on oil will be lowered. We will continue to raise prices, making the cessation of aggression the only path for Moscow,” she wrote on social media platform X.
Among the key measures is a ban on conducting any operations with the Nord Stream pipelines, as well as lowering the upper price limit on Russian oil. According to diplomats cited by Reuters, the G7 plans to set the price at $47.6 per barrel instead of the previous $60. This is expected to further reduce Russia’s revenues from energy exports.
Obstacles and Slovakia’s Position
The sanctions are also aimed at vessels that are part of the so-called “shadow fleet” – they are used to circumvent EU restrictions, primarily for transporting Russian oil. Although gas supplies through the two Nord Stream underwater pipelines are currently not taking place, the EU has decided to ban any transactions involving their use to prevent the resumption of supplies in the future.
Slovakia opposed the adoption of the 18th package due to disagreement with a separate proposal from the European Commission to completely stop importing Russian gas by 2028. According to Bratislava, this could lead to a shortage of energy resources, rising prices and transit fees, as well as claims from Gazprom for compensation. However, Slovak Prime Minister Robert Fico announced agreement to stop blocking the adoption of sanctions, after which the package was approved.
It is worth noting that unanimous support from all EU member states is required to approve sanctions against Russia. At the same time, the issue of completely abandoning the import of Russian energy resources by 2028 only requires a majority vote.
The draft of the 18th sanctions package was presented by the European Commission in June this year, and its key proposal is to lower the price ceiling on Russian oil to $45 per barrel. This policy is aligned with G7 partners, including the United States, and was discussed during the summit in Canada.