Overview

• On June 10 the European Commission unveiled its 18th sanctions package targeting Russian energy revenues, banks and military industries.
• Kremlin spokesman Dmitry Peskov called the measures illegal and warned of a double-edged economic recoil that would hurt European economies.
• Peskov said Russia has built significant resistance to Western economic pressure and expects further EU restrictions.
• After contracting in 2022, Russia’s economy grew 4.3 percent in 2024 compared with the euro zone’s 0.9 percent expansion.
• While France has urged tougher measures to compel Moscow toward peace talks, the United States has so far declined to tighten its own sanctions.