The agreement follows reports of a 12-month freeze on the EU's price cap on Russian crude oil and unlocks a new sanctions package.
Ramaz Bluashvili
European Union countries reached an agreement on sanctions against Russia, resolving a long-standing dispute over the shipping of Russian gas to third countries, according to officials.
The deal follows the conclusion of negotiations on the 21st sanctions package.
Several European Union member states are now requesting specific exemptions from the newly agreed sanctions against Russia. While this development emerges as Ukraine's broader outlook appears to improve, the move highlights ongoing tensions regarding the implementation of the fresh restrictive measures.
The latest sanctions package now targets Russian financial institutions, energy sectors, and cryptocurrency services. While an agreement was reached, reports suggest the final measures were significantly watered down following veto threats from member states aiming to protect national interests, with some countries currently seeking specific exemptions.
The new sanctions package specifically targets Russian financial institutions, including the crypto exchange HTX, alongside energy and financial services sectors. Meanwhile, reports suggest the final agreement was significantly softened due to member states' concerns and veto threats while seeking national exemptions. Separately, US President Donald Trump has announced a new wave of tariffs on trading partners including the EU, with levies ranging between 10 and 12.5%.
