**EU Unveils 18th Package of Sanctions Against Russia, Targeting Energy, Banking, and Oil**
The European Union has announced its 18th package of sanctions against Russia, aimed at further isolating the country’s economy. According to European Commission President Ursula von der Leyen, the new restrictions will target energy, banking, oil, and other areas.
**Russia’s Refusal to Accept Ceasefire Leads to Harsher Sanctions**
The EU’s move comes after Moscow repeatedly refused to accept a ceasefire, despite calls from Ukraine’s allies. Russian troops continue to advance along the front line, approaching Ukraine’s Dnipropetrovsk Oblast and moving deeper into Sumy Oblast.
**”Strength is the Only Language That Russia Will Understand”**
Von der Leyen emphasized that “Russia’s goal is not peace,” and that strength was the only language Moscow would understand. The EU has proposed a ban on transactions involving the Nord Stream 1 and Nord Stream 2 pipelines, as well as a reduction in the oil price cap from $60 to $45 per barrel.
**Key Components of the New Sanctions**
The key components of the new sanctions include:
* A ban on transactions involving the Nord Stream 1 and Nord Stream 2 pipelines
* A reduction in the oil price cap from $60 to $45 per barrel
* The addition of 77 more shadow fleet vessels to comply with the cap
* A ban on imports of petroleum products made from Russian oil
* The addition of 22 more Russian banks to the list of those who can no longer use the SWIFT international system
**EU Wants Sanctions to Be More Effective**
The EU wants its sanctions to be more effective, and has proposed extending the ban on transactions to financial operators in third countries that finance trade with Russia. The EU also proposes imposing limitations on the Russian Direct Investment Fund, its subsidiaries, and investment projects.
**Critical Technologies and Industrial Goods to Be Affected**
Further EU restrictive measures will include a ban on exports worth more than 2.5 billion euros ($2.8 billion), which must deprive the Russian economy of critical technologies and industrial goods. Machinery, metals, plastics, and chemicals used as raw materials for industry, as well as dual-use goods involved in the production of weapons and drones, will be affected.
**EU Wants Sanctions to Be More Effective**
The EU wants its sanctions to be more effective, and has proposed listing another 22 Russian and foreign companies, including those from China and Belarus, providing direct or indirect support to Russia’s military and industrial complex. These additions will bring the total number of sanctioned companies to over 800.
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