The European Union has approved its 18th and most sweeping package of sanctions against Russia, focusing on slashing Moscow’s oil revenues that fund its war in Ukraine.
Key measures include lowering the price cap on Russian crude, banning transactions with more Russian banks, and targeting Russia’s 'shadow fleet' of tankers used to evade restrictions. The UK has joined the EU in tightening the oil price cap, while India and China are expected to continue importing Russian oil, potentially blunting the sanctions’ impact. The new rules are set to disrupt global oil markets, affecting Indian refiners and raising concerns about ripple effects on fuel prices.
Despite these efforts, analysts and the Kremlin note that Russia has adapted to previous sanctions, and the effectiveness of the latest measures remains uncertain.
.Here are the top political news stories for today.
Be the first to reply to this general discussion.
Join in on more popular conversations.
