EconomyPolitics The EU plans to impose sanctions on Nord Stream and decrease the Russian oil value cap. Monday, Might 26, 2025

The European Fee is already getting ready its 18th bundle of sanctions towards Russia, which is able to disconnect about 20 banks from the SWIFT cost system and impose commerce bans exceeding €2.5B in worth. The EU additionally intends to impose sanctions on the Nord Stream gasoline pipeline tasks for the primary time. Concurrently, Brussels is contemplating further sanctions concentrating on the Russian shadow fleet and restrictions on funds that help the Kremlin’s navy efforts. The EC is conducting closed consultations with EU nations relating to a brand new sanctions bundle. Additionally they plan to decrease Russian oil value cap to about $45 per barrel (at the moment $60). Nonetheless, decreasing the worth ceiling will probably require help from the US. Washington has not but backed the EU initiative to cut back the worth ceiling even to $50, as the present decline in oil costs is reportedly impacting the Russian economic system. Brent oil costs are at the moment round $64 per barrel, whereas Russian Urals oil is $10 cheaper. In the meantime, the G7 finance ministers have condemned Russia’s battle towards Ukraine and threatened Moscow with stricter sanctions if a ceasefire is just not reached.