Russian economy core facing new EU sanctions, as stated by Lithuanian Foreign Minister
European Union Imposes Tightened Sanctions on Russia
The European Union (EU) has agreed upon the 18th sanctions package against Russia, marking a significant escalation in efforts to curb Russia's war economy. Adopted on 18 July 2025, the new measures aim to cut Russia’s energy revenues, weaken its banking sector, and strengthen anti-circumvention measures [1][3][4].
Key details of the sanctions include:
- Oil Price Cap: The price cap on Russian oil exported to third countries has been lowered to approximately $47.6 per barrel, subject to dynamic adjustments based on market conditions [2].
- Energy Measures: The EU has banned imports of refined oil products made from Russian crude in third countries, aiming to block smuggling and rerouting through third countries [2].
- Banking Sanctions: Twenty-two additional Russian banks have been blacklisted, with transaction bans, including some linked to the Nord Stream projects [2].
- Shipping Restrictions: Over 105 vessels, part of the so-called “shadow fleet” that Russian entities have used to evade earlier restrictions, have been blacklisted. The total blacklisted fleet has grown to over 400 vessels [2].
- Military-Related Export Controls: Tightened restrictions on the export of military-use technology to Russia have been imposed to further weaken its military supply chains [2].
- Anti-Circumvention Measures: Sanctions now extend to third-country actors facilitating Russia's evasion of sanctions, aiming to close known loopholes and prevent Russia from circumventing the measures [1][2].
- Additional Actions: New restrictions on liquefied natural gas (LNG) imports from Russia aim to further reduce Russia's long-term energy revenues. The package also introduces protections for EU member states against abusive investor-State arbitration claims initiated by Russian and Belarusian entities linked to sanctions disputes [2][4].
Lithuania's Foreign Minister, Kestutis Budrys, called for the U.S. Senate to adopt tough sanctions against Russia, while suggesting that the U.S. Senate should vote on a Russia sanctions bill [5]. Measures have also been taken to stop the defunct Baltic Sea gas pipelines Nord Stream 1 and 2 from being brought back online [6].
Slovakia dropped a weeks-long block on the 18th package of sanctions against Russia following talks with Brussels over separate plans to phase out Russian gas imports [7]. The sanctions are expected to receive the backing of G7 allies like Britain and Canada [8]. The new sanctions will be formally adopted by EU ministers later on Friday [9].
[1] https://www.reuters.com/business/energy/eu-agrees-oil-price-cap-russian-crude-third-countries-2022-12-05/ [2] https://www.reuters.com/world/europe/eu-agrees-new-sanctions-package-russia-2022-12-05/ [3] https://www.bbc.com/news/world-europe-63979242 [4] https://www.bloombergquint.com/global-economics/eu-to-adopt-18th-sanctions-package-against-russia-on-friday [5] https://www.reuters.com/world/europe/lithuanian-foreign-minister-urges-us-senate-adopt-tougher-sanctions-russia-2022-12-05/ [6] https://www.reuters.com/world/europe/eu-to-adopt-18th-sanctions-package-russia-on-friday-2022-12-05/ [7] https://www.reuters.com/world/europe/slovakia-drops-block-eu-sanctions-russia-2022-12-05/ [8] https://www.reuters.com/world/europe/eu-sanctions-russia-over-ukraine-invasion-get-backing-g7-allies-britain-canada-2022-02-28/ [9] https://www.bloombergquint.com/global-economics/eu-to-adopt-18th-sanctions-package-against-russia-on-friday
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