The European Union revealed its 18th package of sanctions against Russia on Tuesday, targeting the country’s vital energy and banking sectors in a bid to further pressure Moscow over its war in Ukraine. The centerpiece of the new measures is a proposal to lower the price cap on Russian oil from $60 to $45 per barrel. European Commission President Ursula von der Leyen announced the sanctions alongside EU foreign policy chief Kaja Kallas in Brussels, emphasizing that “strength is the only language that Russia will understand.” Von der Leyen highlighted that Russia’s oil and gas revenues from Europe have already … Continue reading EU Cuts Russian Oil Price Cap 25% as 419 Shadow Fleet Vessels Face New Sanctions