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  - WN.COM - World - Aujourd'hui 11:26

EU approves 18th Russia sanctions package targeting banks and oil

The European Union agreed Friday to impose new sanctions on Russia, targeting 22 banks and implementing a dynamic oil price cap mechanism as part of efforts to pressure Moscow over its war in Ukraine. EU ambassadors in Brussels endorsed the measures, which ban transactions with Russian banks including the Russian Direct Investment Fund and prohibit use of the Nord Stream pipelines. The sanctions mark the 18th package since Russia’s February 2022 invasion of Ukraine. The EU will replace its fixed $60 per barrel oil price cap with a dynamic system that remains 15% below average market prices, starting at $47.6 per barrel with automatic six-monthly...

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