EU agrees 18th Russia sanctions package

On 18 July 2025 the EU agreed its 18^th sanctions package against Russia. This latest round of EU sanctions will lower the G7’s crude oil price cap from the current $60.00 per barrel to $47.60 per barrel. The price cap will be revised every six months in order for it to adapt to any changes in the market price. The G7 price cap was originally agreed in December 2022 by the G7 countries, and EU officials hope that other countries will support this latest reduction in the price cap.

EU foreign ministries also agreed to list a further 105 vessels from Russia’s so-called “shadow fleet”, bringing the total number of banned vessels to over 400.

The EU’s 18^th sanctions package also includes a ban on transactions with 22 Russian banks and a transaction ban relating to the Nord Stream gas pipelines. It is expected that some companies which are involved in the supply of dual-use technology will also be added to the EU sanctions list.

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