The European Union has approved its 18th and most stringent package of sanctions against Russia, targeting the country's vital energy sector and lowering the price cap on Russian oil exports. These measures are designed to slash Russia’s oil revenues, which fund a significant portion of its war effort in Ukraine. The new sanctions also include bans on transactions with additional Russian banks and restrictions on petroleum products, though some measures are delayed until next year. Despite these efforts, Russia has adapted to previous sanctions, and major importers like India and China are expected to continue buying Russian crude. The sanctions have sparked diplomatic tensions, with Russia vowing to defend its interests and some EU member states, like Slovakia, negotiating exemptions before agreeing to the package.
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