Overview

• The proposal would lower the existing $60 per barrel cap on Russian oil to $45 to further dent Moscow’s war funding.
• Ursula von der Leyen said oil export revenues still account for about one-third of Russia’s income and must be cut to push for a ceasefire.
• The package adds roughly 70 ‘ghost’ tankers and 22 Russian banks to sanction lists, curbing their market access.
• New measures target the dormant Nord Stream pipeline to ensure it cannot be restarted for future gas deliveries.
• Unanimous approval by all 27 EU member states is required, with Hungary and Slovakia already voicing reservations.