EU Commission Offers Proposal for Eighteenth Round of Sanctions
New Twist: EU Slaps Russia with 18th Sanctions Package
Get ready, Russia! The EU has propositions for a new round of restrictions, and it ain't gonna be pretty. EU Commission President, Ursula von der Leyen, went all gangbusters in Brussels on Tuesday, stating, "We're cranking up the heat on Russia because they only understand a good old-fashioned smackdown."
The new sanctions package, number 18 in the series, is aimed squarely at the heart of Mother Russia. It targets the supposed Russian "shadow fleet" designed to dodge sanctions, and reduces the oil price cap from a steep $60 per barrel to a grueling $45 (around €40).
In December 2022, the EU, G7 nations, and Australia had banded together to impose a price cap on Russian oil. With global oil market prices nudging closer to and sometimes even dipping below the $60 mark, von der Leyen believes the reduction is justified. She will discuss this adjustment during the G7 summit next week in Alberta, Canada, expressing full confidence that this goal will be achieved.
But the EU isn't done yet. Von der Leyen also indicated further sanctions against an additional 77 ships of the shadow fleet, the addition of 22 more Russian banks to the blacklist, and export bans on machinery, metals, plastics, and chemicals. Dual-use goods and technologies essential for the production of drones, missiles, and weapon systems are also in the crossfire.
The EU seems adamant aboutdiminishing Russia's war effort by taking away its key resources. The new sanctions are designed to deprive Russia of machinery, metals, plastics, and chemicals needed for its aggression. To top it off, the EU is also considering a ban on transactions involving the Nord Stream 1 and Nord Stream 2 pipelines, strengthening the EU's dedication to wean itself off Russian energy.
The new oil price cap is a joint G7 coalition initiative and is scheduled to be discussed during the G7 summit in Kananaskis County, Alberta, Canada, from June 15–17. The new sanctions still require approval from EU member states, but if history has taught us anything, it's that when Europe sets its sights on Russia, it doesn't mess around.
Sources: ntv.de, AFP
Enrichment Data:- The European Union is intensifying the war against Russia via a 18th sanctions package, intended to further strain relations amidst the ongoing Ukraine conflict.- Key measures in the new package target Russia's energy sector, banking, and critical technology imports, as the EU seeks to hinder Moscow's revenue from energy exports and supply essential resources for its war effort.- The package proposes a ban on transactions involving Nord Stream 1 and Nord Stream 2 pipelines, underscoring the EU's commitment to ending its reliance on Russian energy.- The expanded blacklist now includes over 350 vessels of the "shadow fleet," with previous measures reportedly reducing Russia's oil export revenues by 30%.- EU leaders, including Ursula von der Leyen and Kaja Kallas, emphasize the need for increased and sustained sanctions until Russia engages in genuine peace talks.
The 18th sanctions package proposed by the EU targets multiple sectors in Russia, including employment policies, as part of a broader war against Russia amid the ongoing Ukraine conflict. The expansion of the EU's blacklist includes over 350 vessels of the "shadow fleet," which are often employed to dodge sanctions, highlighting the EU's focus on policy-and-legislation and politics. Our general-news sources indicate that this escalation in sanctions comes amidst growing concerns over war-and-conflicts and the need for policy-and-legislation to address these issues.
