EU Drops Its Toughest Sanctions Yet: Will Russia Budge?

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The European Union is pushing forward with its eighteenth round of sanctions against Russia, aiming to pressure Moscow into agreeing to a ceasefire in Ukraine. Supported by Western allies, these sweeping measures are seen as essential for kickstarting meaningful peace talks. Key points include blacklisting twenty-two Russian banks, targeting the $10 billion Russian Direct Investment Fund, and expanding bans on entities aiding sanctions evasion. The EU is also cracking down on Russia’s shadow fleet, blacklisting seventy-seven vessels and barring nearly 350 aging tankers from EU ports. With proposals to lower the oil price cap and ban imports of relabeled Russian crude, plus political resistance from Hungary, Slovakia, and former US President Trump, tensions are rising.

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