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Politics

EU Agrees New Russia Sanctions, Targets Oil Price and Shadow Fleet

The European Union has agreed on a new package of sanctions against Russia over its war in Ukraine. The measures include a price cap on Russian oil for the first time, aimed at reducing Moscow's revenues. The EU also said it is targeting the so-called shadow fleet of vessels that help Russia evade existing restrictions. The sanctions package is part of ongoing efforts to increase pressure on Russia to end the conflict. Officials stated that the new measures are designed to hit key sectors of the Russian economy. The exact details of the price cap and other restrictions have not been fully disclosed. The EU has imposed multiple rounds of sanctions since the war began, targeting energy, finance, and trade. This latest round marks a significant step by directly addressing the shadow fleet, which has been used to transport Russian oil above the price cap set by Western allies. The move is expected to further strain Russia's ability to fund its military operations. The sanctions are subject to legal review and implementation by member states.

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