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EU Unveils 18th Sanctions Package to Cripple Russian Oil Revenue

6/10/2025

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Summary

Story summary

The European Union is ramping up pressure on Russia with its 18th sanctions package, slashing the oil price cap from $60 to $45 per barrel and banning the use of Nord Stream pipelines. These measures are designed to cut Russian revenue and push for peace talks over Ukraine, while also targeting more vessels in Russia's shadow fleet.

History

Historical Context

The European Union's latest sanctions against Russia, including a reduced oil price cap, echo past efforts to curb Russian aggression. Following the 2014 annexation of Crimea, similar sanctions aimed to limit Russia's economic power. The current measures reflect an ongoing strategy to weaken Russia's revenue streams, reminiscent of Cold War tactics where economic pressure was used to influence geopolitical actions.

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Story summary

The European Union is ramping up pressure on Russia with its 18th sanctions package, slashing the oil price cap from $60 to $45 per barrel and banning the use of Nord Stream pipelines. These measures are designed to cut Russian revenue and push for peace talks over Ukraine, while also targeting more vessels in Russia's shadow fleet.

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