EU ambassadors have given the green light to the bloc’s latest sanctions package against Russia, with final procedural steps now underway.
Slovakia ends blockade of EU's latest Russia sanctions
Slovakia, which had been blocking the decision, lifted its veto after securing assurances on its energy security.
While it did not oppose the sanctions themselves, Bratislava objected to a European Commission plan to phase out Russian gas imports by the end of 2027.
The standoff, which had delayed the package for weeks, was resolved under Poland’s presidency of the EU Council, according to officials.
EU tightens pressure on Russia's energy, financial sectors
The new measures include a lower price cap on Russian oil. Replacing the fixed ceiling of USD 65 (EUR 60) per barrel, the cap will now be set dynamically - 15 percent below market value - initially placing it around USD 50 (EUR 46).
Malta had raised concerns but ultimately did not block the deal after Slovakia withdrew its opposition.
The sanctions also target vessels from the so-called “shadow fleet” used to ship Russian oil in violation of international restrictions.
Additionally, the EU will impose measures on the Nord Stream gas pipelines citing precautionary reasons.
The package tightens restrictions on Russia’s banking sector by cutting more banks off from the SWIFT system and escalates sanctions on its military industry.
'We’re cutting the Kremlin’s war budget further'
The EU's foreign policy chief, Kaja Kallas, described the latest package as one of the strongest against Russia to date.
"We are standing firm ... 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,” she said in a post.
“Nord Stream pipelines will be banned. A lower oil price cap. We are putting more pressure on Russia’s military industry, Chinese banks that enable sanctions evasion, and blocking tech exports used in drones,” she added.
In a significant first, the EU has sanctioned a foreign flag registry and the largest Rosneft refinery operating in India.
'We will keep raising the costs'
The package also includes measures against individuals and institutions accused of indoctrinating Ukrainian children.
“For the first time, we're designating a flag registry and the biggest Rosneft refinery in India," Kallas said. "Our sanctions also hit those indoctrinating Ukrainian children. We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow."
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Source: IAR/X/@bplomecka/@kajakallas