The European Union has adopted a new package, the 18th in a row, of sanctions against Russia, in response to the ongoing war in Ukraine.
The package includes a revised cap on the price of Russian oil and new restrictive measures for Russian banks, after Slovakia withdrew its veto.
Among the measures are the disconnection of about 20 Russian banks from the international SWIFT payment system, a complete ban on transactions with them, sanctions on the Nord Stream gas pipeline to ensure it is never put back into operation, and restrictions on Russian oil re-exported from third countries after refining.
The maximum price for Russian oil, which has so far been fixed at $60 per barrel, will now be set by a flexible mechanism. It will be about $15 below the market price. The new mechanism is expected to start at $45 to $50 and will be automatically adjusted at least twice a year, according to prevailing market conditions, Bloomberg reported.
Representatives of EU member states gave the green light to the new sanctions package on Friday morning, with formal approval expected during a meeting of EU ministers in Brussels. (A2 Televizion)
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