The European Union has approved a new package of sanctions against Russia in response to the ongoing conflict in Ukraine. Member states reached agreement on Friday to adopt the 18th sanctions package, marking a significant continuation of the EU’s response to the situation.
The approval followed a shift in position by Slovakian Prime Minister Robert Fico. Previously, Fico had been blocking the new measures, seeking an exemption for Slovakia that would have allowed a contract with Russian energy giant Gazprom, concerning gas deliveries, to remain valid until 2034.
The EU aims to phase out all gas imports from Russia by January 1, 2028. The latest package, proposed by the EU Commission in June, targets a broad range of sectors, beyond just gas and oil exports. Russian banks and the country’s arms industry are also included in the scope of the sanctions. The move underscores the EU’s commitment to further restricting Russia’s economic capabilities.
