EU and UK Unleash Toughest Sanctions Yet on Russian Oil to Cripple Putin’s War Machine

The European Union, joined by the UK, has approved its 18th and most stringent package of sanctions against Russia, targeting the country’s vital energy and banking sectors in response to the ongoing war in Ukraine. Key measures include a substantial lowering of the price cap on Russian oil exports, new restrictions on Russian banks, and a crackdown on the so-called 'shadow fleet' transporting Russian crude. These sanctions aim to slash Russia’s oil revenues and further isolate its economy, though experts note that major buyers like India and China may continue imports. The move has sparked backlash from Russia and concerns from countries like India and Slovakia, who argue the sanctions could harm their own energy security and economic interests. Despite thousands of sanctions already in place, Russia’s economy has shown resilience, but the EU hopes this latest package will deliver a decisive blow to Moscow’s war funding.