EU prepares 18th package of sanctions against Russia: considers disconnecting banks from SWIFT system, lowering oil price cap, and banning Nord Stream gas pipelines - Bloomberg
The European Union is considering excluding more than 20 banks from SWIFT and banning the Nord Stream gas pipeline as part of a new package of sanctions aimed at increasing pressure on Moscow to end its war against Ukraine.
According to Censor.NET, Bloomberg writes about this with reference to informed interlocutors.
It is noted that the European Commission is consulting with EU member states on plans to disconnect more than 20 Russian banks from the SWIFT international payment system, as well as to reduce the price ceiling for Russian oil and impose a ban on the Nord Stream gas pipeline as part of the 18th package of sanctions against Russia.
The EU plans to introduce additional transaction bans for about two dozen banks, as well as new trade restrictions worth about 2.5 billion euros. The goal is to reduce Russia's revenues and limit its access to technologies that can be used to produce weapons.
There is discussion of lowering the ceiling price for Russian oil agreed by the G7 countries to about $45 per barrel. Currently, this threshold is $60. Above this limit, the G7 countries do not provide transportation or insurance services related to the trade in Russian oil. This step will require support from the United States. At a meeting in Canada, G7 finance ministers failed to reach an agreement on lowering the price limit.
The ban on Nord Stream has already received the support of Germany, where its end point is located. These gas pipelines have been out of service since 2022, and sanctions will make it impossible to resume their operation.
Separately, the EU is considering expanding sanctions against the so-called"shadow fleet" of Russian tankers, new restrictions on financial institutions that allegedly help the Kremlin's military efforts, and the Russian Direct Investment Fund.
The next package of sanctions is also expected to include provisions that will protect European companies from possible lawsuits under bilateral investment agreements.
This weekend, the European Commission will hold closed consultations with representatives of the EU member states on the preparation of a new, 18th package of sanctions against Russia.
