Overview

• The European Commission would cut the cap on Russian oil from $60 to $45 per barrel to adapt to current market levels and reinstate price‐cap impact.
• The draft measures bar any EU transactions tied to the Nord Stream 1 and 2 pipelines to prevent restoration of direct gas links with Russia.
• Brussels plans to sanction 77 additional ships in Russia’s shadow fleet and ban imports of refined petroleum products to close existing loopholes.
• The package extends Swift prohibitions to 22 more Russian banks and financial operators and targets the Russian Direct Investment Fund to disrupt war financing.
• New export curbs on critical technologies and industrial goods aim to deny Russia components needed for military modernization.