EU and Britain Tighten Sanctions on Russia, Targeting Oil Revenue and Military Capacity

The European Union and Britain jointly unveiled new sanctions on a recent Friday, targeting key sectors of the Russian economy. These measures focused on limiting Russia's oil revenue, restricting its banking sector, and hindering its military capabilities. The aim was to increase pressure on Moscow to cease its ongoing war in Ukraine.

The sanctions package included several key elements. These were a reduction in the price cap on Russian oil exports, the addition of more vessels from Russia's shadow fleet to a blacklist, and an expansion of restrictions on financial transactions and exports of dual-use goods. This marked the eighteenth round of sanctions imposed by the EU since the full-scale invasion began in 2022.

EU officials emphasized the message being sent to Moscow. They stated that Europe would maintain its support for Ukraine and would not relent in its efforts. The goal was to continue applying pressure until Russia ended its military actions.

British officials also expressed their commitment to the sanctions. They highlighted the tightening of the oil price cap as a crucial step in impacting the Russian energy sector. They reiterated their resolve to take action while Russia continued to delay serious peace negotiations.

The Ukrainian President welcomed the new sanctions, describing them as both essential and timely.