The European Union has approved its 18th and most sweeping package of sanctions against Russia, targeting the country's vital oil exports with a lower price cap and new restrictions on its 'shadow fleet' of tankers.
The measures aim to slash Russia's energy revenues, which fund its war in Ukraine, by making it harder for Moscow to sell oil above the capped price and by banning transactions with more Russian banks. However, analysts and officials note that Russia has adapted to previous sanctions, and major buyers like India and China are expected to keep importing Russian crude, potentially blunting the impact. The new sanctions also risk disrupting global oil markets, affecting Indian refiners and possibly leading to higher fuel prices.
Despite the EU's efforts, questions remain about the effectiveness of these measures in significantly weakening Russia's war machine.
.Here are the top political news stories for today.
Be the first to reply to this general discussion.
Join in on more popular conversations.
