The European Union has approved its 18th package of sanctions against the Russian Federation—described as "one of the toughest yet."
According to the EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, the new sanctions significantly tighten restrictions on Russia’s military budget.
“We’re cutting the Kremlin’s war budget further, going after 105 more shadow fleet ships, their enablers, and limiting Russian banks’ access to funding. Nord Stream pipelines will be banned. A lower oil price cap,” she said.
The measures also include lowering the price cap on Russian oil, tightening restrictions on the Russian military-industrial complex, sanctioning Chinese banks that help Moscow bypass restrictions, and blocking the export of technologies used in drones.
For the first time, the EU is also sanctioning a shipping flag registry and Rosneft’s largest oil refinery in India.
“Our sanctions also hit those indoctrinating Ukrainian children,” Kallas emphasized.
She concluded by stating that the EU “We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow.”
