EU to target Nord Stream and Russian oil cap in new sanctions package

The European Commission is proposing a new round of sanctions against Russia, which includes lowering the oil price cap from $60 to $45 per barrel and banning the use of Nord Stream infrastructure.

This 18th package, aimed at increasing pressure on Russia amid stalled Ukraine peace talks, also seeks to list additional Russian banks and shadow fleet vessels, while providing safeguards for Belgium against potential lawsuits from Moscow.

EU member states must unanimously adopt the proposal, although Slovakia and Hungary’s previous opposition may complicate negotiations, despite optimism for agreement by the end of July.

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