The European Union has imposed its 18th round of sanctions on Russia's energy sector, targeting key areas such as defunct Baltic Sea gas pipelines Nord Stream 1 and 2, shadow fleet vessels, and the financial sector. EU President Ursula von der Leyen stated that these new measures would increase the joint impact of sanctions with US actions, aiming to limit Russia's ability to transport its oil and "dry up the Kremlin's resources" to wage war.
The European Commission is developing a lower oil price ceiling and stricter regulations on Russia's "shadow fleet". The EU wants to coordinate with the US on new measures, particularly lowering the G7 Russian oil price cap from $60 to at least $50. This requires American consent, which has been granted in some cases, such as when France, Spain, Belgium, the Netherlands, and Portugal were allowed to continue importing Russian liquefied natural gas (LNG) despite the sanctions.
However, countries like Italy, Greece, Hungary, Slovakia, and Bulgaria that buy Russian pipeline gas are still subject to the new measures. The EU's goal is to limit Russia's ability to transport its oil and reduce its resources for waging war in Ukraine.