The European Commission has announced that it has included in the 18th package of sanctions against Russia

European Commission President Ursula von der Leyen and EU Chief Diplomat Kaja Kallas announced that the 18th package of sanctions against Russia has been adopted.

The statement notes that the 18th package of sanctions includes restrictions on Russia's energy and banking sectors.

The EU is proposing a ban on transactions for Nord Stream 1 and Nord Stream 2. This means that no EU operator will be able to participate directly or indirectly in any transactions related to the Nord Stream pipelines.

In addition, it is proposed to lower the price cap on oil from $60 to $45 per barrel. According to the statement, by lowering the price cap on oil, it will be adapted to market conditions that have changed since 2023, when the price cap on raw materials was introduced.

Another 77 vessels belonging to Russia's “shadow fleet” have been added to the sanctions list, which already includes 342 vessels. In addition, there are plans to ban imports of petroleum products made from Russian crude oil.

In the banking sector, the European Union is proposing a complete ban on transactions through the SWIFT system. According to the statement, such a ban on transactions is proposed to be applied to 22 Russian banks.

In addition, the new package of sanctions provides for a ban on transactions for financial operators in third countries that trade with Russia in circumvention of sanctions. It is also proposed to impose restrictions on the Russian Direct Investment Fund, its subsidiaries, and investment projects.

The next item in the sanctions package provides for further export bans worth more than €2.5 billion. These include restrictions on exports of goods for machine building, metals, plastics, and chemicals used as raw materials in industry. In addition, there are plans to restrict exports of dual-use technologies and goods that Russia uses to produce drones, missiles, and other weapons.

The EU has also added 22 Russian and foreign companies that provide direct or indirect support to the Russian military-industrial complex to the sanctions list.

"With this package, we are stepping up the pressure on Russia. Our goal is very clear: we reiterate our call for a complete and unconditional ceasefire for at least 30 days. This pause in hostilities could be a vital step towards reducing civilian suffering and creating space for meaningful negotiations on a genuine peace," the European Commission said in a statement.

Source: NV