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EU Imposes New Sanctions on Russia and Its Oil Trade

EU Imposes New Sanctions on Russia and Its Oil Trade

Bloomberg18-07-2025
The European Union has approved a new package of sanctions on Russia, including restrictions on banking and fuels made from Russian petroleum, and a revised oil price cap – the 18th raft of measures since the country's full scale invasion of Ukraine. The new controls will cut around 20 more Russian banks off from the international payments system SWIFT and blacklist a large oil refinery in India, which is partially owned by Russia's state-run oil company.
The deal was initially blocked by Slovakia, until the country last night accepted guarantees from the European Commission that would limit the fallout from a planned cut off of Russian gas.
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