Source: European Commission (video statements)
With the 18th sanctions package against Russia, announced on June 10th, the EU goes for the Russia’s energy and banking sectors.
Europe is putting Nord Stream 1 and 2 behind for good. We are also listing additional 77 vessels that are part of the Russian shadow fleet. Oil is one third of Russia’s government revenues. We need to cut this source. That’s why we propose to lower the oil price cap from 60 to 45 $ per barrel.
🔹 Banking – We are targeting the Russian banking sector by limiting its ability to raise funding and conduct transactions. We propose to transform the existing prohibition to use the SWIFT system into a full transaction ban. And we propose to apply such a transaction ban to another 22 Russian banks.
Our message is very clear: this war must end. We need a real ceasefire, and Russia has to come to the negotiating table with a serious proposal.