European Commission Releases Draft Of New Sanctions Against Russia

The EC intends to cut oil prices from Russia and disconnect 22 banks from SWIFT.

The European Commission on June 10 released a draft of a new sanctions package against Russia, which is aimed at restricting the energy and banking sectors of the Russian Federation. This was announced at a briefing by EC President Ursula von der Leyen. The press conference was broadcast on her page in social network X.

"Today we are increasing pressure on Russia with the 18th package of tough sanctions. The focus is on Russia's energy and banking sectors. We are extending export bans and controls and strengthening measures to counter circumvention," she said.

Fon der Leyen added that the European Commission is proposing a transaction ban on the Nord Stream 1 and Nord Stream 2 gas pipelines. According to her, "this means that no EU operator will be able to participate directly or indirectly in any transaction in relation to the Nord Stream pipelines."

The draft also envisages lowering the price ceiling on Russian oil from $60 to $45 per barrel and expanding the sanctions list against Russian "shadow fleet" vessels. The European Commission president added that the reduction of the price ceiling will be discussed at the G7 summit in Canada early next week so that the allies can coordinate positions.

In addition, the European Commission plans to disconnect 22 more Russian banks from the SWIFT system, as well as ban EU countries from buying oil products from Russian raw materials.

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