A representative of the European Commission, Arianna Podesta, reported that the 18th package of EU sanctions against Russia will come into force at the end of this week.
This is reported by Suspilne.
According to Arianna Podesta, the European Union is focused on effectively implementing already adopted restrictions, while work is underway on upcoming sanction measures.
“Sanctions are a process that requires constant work. We are looking for new ways to implement already adopted restrictions and are working in parallel on future packages,” stated the representative of the European Commission.
She also emphasized that the EU aims to enhance the effectiveness of sanctions and maintain unity in pressuring Russia both within the bloc and in coordination with international partners.
What the 18th package of sanctions against Russia includes
- A new mechanism for dynamic price restriction on oil is introduced, which will set the price at 15% below the average market price for Russian crude oil. This means that the cost will be reduced from 60 to approximately 47.6 dollars per barrel.
- A new ban on transactions related to Nord Stream 1 and 2 is introduced, and 105 new lists of shadow fleet vessels are added.
- The current SWIFT ban is expanded to a complete ban on transactions. Access of Russia to dual-use/modern technologies is further restricted.
Recall that the 18th package of sanctions was approved by the EU Council on July 18. In response, Deputy Chairman of the Russian Security Council Dmitry Medvedev threatened to intensify attacks on Ukraine.