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📰 EU Tightens Grip on Russian Energy – Oil Price Cap Cut, Shadow Fleet Banned
🗓️ July 19, 2025
📍 Brussels, Belgium
The European Union has announced a new wave of sanctions against Russia, targeting the country’s vital energy sector. The measures include a reduction in the price cap for Russian crude oil to $47.6 per barrel, down slightly from the previous ceiling.
This step aims to further restrict Russia’s energy revenue, a major source of funding for its war in Ukraine. In addition, the EU has expanded its ban on petrochemical and refined oil products imported from Russia.
A key element of this sanctions package is the formal blacklisting of over 100 “shadow fleet” vessels—tankers suspected of bypassing sanctions via opaque ownership and routing practices. These ships are now barred from accessing EU ports and services.
The crackdown on shadow fleets and lower price cap will increase pressure on Russia’s oil logistics and revenue stream. However, Moscow may seek alternative trading partners or expand gray-market sales through third-party nations. Retaliatory economic or cyber responses from Russia cannot be ruled out.
🔗 Reported from Brussels, Belgium – World News Economic Desk
,RussiaSanctions ,OilPriceCap ,ShadowFleet ,EuropeanUnion ,WorldNews
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