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EU tightens sanctions against Russia

New measures lower the oil price cap and ban transactions related to Nord Stream pipelines.

July 18, 2025 at 08:39 AM

EU lowers Russia oil cap and imposes new sanctions after Fico drops veto

New measures aim to hinder Russia's capacity for warfare amid the ongoing conflict in Ukraine.

EU tightens sanctions against Russia as Slovakia drops veto

The European Union has implemented a new set of sanctions against Russia, which includes lowering the price cap on Russian oil and a ban on transactions linked to the Nord Stream pipelines. This follows Slovakia's decision to drop its veto after securing assurances regarding energy prices. The current cap on Russian oil is now approximately $47.6 per barrel, down from the previous $60, reflecting the EU's commitment to maintaining pressure on the Russian economy. Ukrainian President Volodymyr Zelenskyy described these actions as timely, given the recent increase in Russian military aggression.

Key Takeaways

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EU sanctions now target Russian banks and oil prices

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Price cap on Russian oil lowers to $47.6 per barrel

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Slovakia rescinds veto on sanctions after negotiations

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Zelenskyy calls the measures timely against Russian aggression

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This is the 18th round of sanctions from the EU since 2022

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U.S. Senate may consider additional harsh sanctions on Russia

"This decision is essential and timely, especially now."

Ukrainian President Zelenskyy emphasizes the importance of the new sanctions in response to Russian actions.

"The EU paved the way. Now it’s time for a perfect storm."

Lithuanian Foreign Minister Budrys highlights the need for strong U.S. sanctions following the EU's measures.

These latest sanctions represent a critical step in the EU's strategy to weaken Russia's economic capabilities amid ongoing hostilities. By reducing the oil price cap and targeting specific assets, the EU aims to increase the financial strain on Russia. However, as seen with Slovakia's initial resistance, internal EU dynamics can complicate swift action. The anticipated U.S. sanctions could further escalate tensions, emphasizing the need for a unified front as challenges in energy supply and market stability loom.