EU approves eighth sanctions package against Russia including oil price cap

The EU has approved the eighth package of sanctions against Russia, which includes an oil price cap, the European Commission reports.

The EU also introduced export restrictions which are aimed to deprive the Russian military and industrial complex of key components and technologies. There is also a ban on the export of coal, specific electronic components found in Russian weapons, technical items used in the aviation sector, certain chemical compounds, and firearms.

The updated sanctions also target the organisers of the “referenda” on occupied territories, as well as high-ranking army officers, businessmen and propagandists “responsible for undermining Ukraine's territorial integrity”.

The sanctions target Russia and the occupied Donetsk, Luhansk, Kherson and Zaporizhzhia regions of Ukraine.

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“This package — which has been closely coordinated with our international partners — responds to Russia’s continued escalation and illegal war against Ukraine, including by illegally annexing Ukrainian territory based on sham “referenda”, mobilising additional troops, and issuing open nuclear threats,” the statement by the European Commission reads.

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