Key Facts
• On July 18, the EU adopted its 18th round of sanctions against Russia.
• The price cap on Russian crude oil was reduced from $60 to $47.6 per barrel.
• Measures include blocking the restart of the Nord Stream gas pipeline.
• The sanctions aim to curb financial inflows to Russia amid the ongoing war.
• EU High Representative Josep Borrell called it one of the strongest sanctions yet.
• Slovakia, initially opposed due to energy dependency, supported the sanctions after receiving guarantees.
Summary
The European Union has approved its 18th round of sanctions against Russia, focusing on reducing financial inflows to the country. Key measures include lowering the price cap on Russian crude oil from $60 to $47.6 per barrel and preventing the restart of the Nord Stream gas pipeline. EU High Representative Josep Borrell described the sanctions as among the strongest ever imposed, emphasizing continued pressure until Russia ceases its war efforts. Slovakia, initially resistant due to its reliance on Russian energy, ultimately supported the sanctions after receiving assurances from the EU. These actions reflect the EU’s commitment to intensifying economic pressure on Russia.
