EU delivers hard blow to Russia: oil price to be lowered!

From May 20 to May 22, the meeting of the G7 countries' finance ministers will take place in Canada. Within the framework of this event, the European Union will propose an initiative to further lower the maximum purchase price of Russian oil delivered by sea. European Union Commissioner for Economic Affairs Valdis Dombrovskis informed about this, reports Reuters.

It was reported that the European Union is discussing this measure as a new, more stringent stage of economic sanctions imposed against Russia in connection with its military aggression against Ukraine. Currently, the upper limit for Russian oil prices is set at $60 per barrel, but EU officials plan to lower this figure to $50 per barrel.

High-ranking European Union officials, who wished to remain anonymous, confirmed to Reuters that this proposal is actively under discussion. According to them, the goal of these actions is to reduce Russia's military expenditures and increase the impact of the sanctions.

In addition, the EU is simultaneously preparing the "largest package of sanctions" against Russia due to its aggressive policy towards Ukraine, which will be announced on May 20 at the meeting of the EU Foreign Affairs Council. It is noted that this package includes the 17th set of sanction measures aimed at increasing economic pressure on the Russian economy.

Within the framework of the new sanctions, 75 additional individuals and entities will be added to the sanctions list against Russia. Moreover, the list will include 200 ships of the "shadow fleet," which under foreign flags bypass the current embargo and transport Russian oil and petroleum products. Thus, the total number of individuals and entities in the EU sanctions list will exceed 2,500, and the number of ships will reach 300.

Additionally, under a special sanctions regime for hybrid threats, the European Union will impose additional restrictions on 27 Russian entities and individuals. Furthermore, within the global sanctions list for human rights violations, another 28 new Russian individuals and entities are expected to be included.

Most importantly, it is reported that the EU is also discussing the issue of additional sanctions against Russia related to the use of chemical weapons. Specifically, the discussion involves chemical substances used for suppressing mass riots. The European Union believes that Russia used these means during the war in Ukraine.

The editorial team of Zamin.uz will continue to closely monitor international policy and developments related to economic sanctions. Will these strict measures by the European Union be able to change Russia's policy? What do you think about this?

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