Overview

• The oil cap will adjust automatically to stay 15% below average Russian crude prices to sustain revenue pressure on the Kremlin.
• The blacklist now encompasses 105 more unregistered tankers known as the ‘ghost fleet,’ along with 22 entities that facilitate sanctions evasion and 22 banks barred from SWIFT.
• Slovakia dropped its blockade after winning EU assurances on gas-supply cooperation, resolving a key internal impasse that had stalled adoption.
• President Volodymyr Zelensky welcomed the measures as essential and timely in response to intensifying Russian attacks on Ukrainian civilian areas.
• The European Commission is pressing Washington to adopt the new price cap and broaden G7 backing to maximize pressure until Russia agrees to a ceasefire.