EU Edges Closer to 18th Sanctions Package Against Russia
EU countries are nearing an agreement on their 18th sanctions package against Russia. The package targets Russia's energy revenue, banks, and military industry, with a proposed oil price cap. Discussions are underway to overcome a member state's objections. The decision is significant due to ongoing tensions with Moscow.
EU leaders are on the brink of finalizing the 18th sanctions package aimed at crippling Russia's economic and military sectors amid its ongoing conflict with Ukraine. This was revealed by the bloc's foreign policy leader, Kaja Kallas, in Brussels.
The proposed sanctions include prohibiting dealings through Russia's Nord Stream pipelines and imposing a dynamic price cap on Russian oil. Some resistance remains as one EU member state voices concerns over the price cap terms, Kallas stated.
Emerging as a response to Russia's aggression, the comprehensive sanctions package primarily targets Moscow's energy earnings and financial institutions known for bypassing existing restrictions, intensifying economic pressures on the Kremlin.
(With inputs from agencies.)
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