On Friday, the European Union approved an 18th cycle of sanctions targeting Russia for its current war in Ukraine, introducing new measures designed to further paralyze the country’s oil and energy sector. According to EU diplomats, the block will implement a price ceiling floating on Russian crude oil fixed at 15% below its average market price – an effort to strengthen the impact of the largely ineffective ceiling of $ 60 imposed by the group of seven nations since December 2022. Thibault Franceschet and Simon Mortiz tell us more.
