Will hit Putin's oil revenues: the EU agreed on the 8th package of sanctions against the Russian Federation, – Politico

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Hit Putin's oil revenues: the EU agreed on the 8th package of sanctions against the Russian Federation, — Politico

< p>Journalists write that the new package of sanctions will hit not only the Russian oil industry, but will also deprive the Russian army of the technologies needed to wage war.

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The ambassadors of the countries of the European Union reached an agreement on new sanctions against Russia, among which is the limitation of prices for the sale of Russian oil. Politico writes about this.

The article says that already the 8th package was proposed by European Commission President Ursula von der Leyen after Russian President Vladimir Putin directly began to threaten to use nuclear weapons in Ukraine and announced about the beginning of mobilization in the Russian Federation.

Journalists write that a number of EU countries have expressed concern about the new measures, especially in relation to the upper limit of oil prices. At the same time, the European Union is working to make Putin “pay” for the escalation of its invasion.

The new package is reported to provide the legal basis for the price ceiling previously agreed by the G7 countries. There is no decision yet on the actual price or price range of the future cap. The package also aims to hit the Russian steel industry and deprive the Russian military of key warfare technologies. It includes additional measures against people who help Putin, forbids citizens of the EU countries to sit on the boards of directors of Russian state-owned enterprises.

Problems with the adoption of the 8th package of sanctions

The article says that Malta , Greece and Cyprus, whose tankers carry most of Russia's oil, have been concerned about the impact of the oil price cap on their shipping industries. This led to some concessions regarding these countries. For example, the draft reportedly mentions the Commission's monitoring system, which will evaluate circumvention methods such as re-flagging ships. If the Commission detects a “significant loss of business” due to these evasive practices, it will “propose measures to mitigate” the impact of these practices.

Ukraine has also been reported to be forced to burn additional coal to run the power grid. In September alone, about 300 thousand tons of coal were additionally used to compensate for the missing power in the energy system.