According to an EU official, new sanctions against Russia following its illegitimate annexation of four regions of Ukraine were agreed upon on Wednesday. One of these sanctions is anticipated to be a price cap on Russian oil.
According to the representative of the Czech Republic, which now holds the rotating presidency of the 27-nation bloc, the agreement was reached in Brussels by diplomats from EU member states.
The sanctions’ specifics weren’t right away disclosed. They could be released on Thursday.
They are anticipated to include restrictions on steel imports from Russia, a price limitation on Russian oil, and restrictions on EU exports of aviation parts to the nation.
These actions add to previously extraordinary European sanctions against Russia brought on by its conflict with Ukraine since February.
Russian energy imports are currently restricted, financial transactions with Russian institutions, including the central bank, are prohibited, and more than 1,000 persons and 100 organizations have had their assets frozen as a result of EU steps.
The majority of Russian oil products are already anticipated to be banned by the EU, forcing Russia to reduce prices in order to attract new clients. On Wednesday, OPEC oil-producing nations will meet to consider reducing supply to raise oil prices, which would benefit Russia.
