EU Tightens Sanctions on Russia
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The 27-nation E.U. also approved a plan to lower the price cap on Russian crude oil and ban transactions with 22 more Russian banks.
The European Union has approved its 18th package of sanctions against Russia, overcoming a block from Slovakia The new measures expand the list of ’shadow’ vessels under sanctions, lower the oil price cap, and – for the first time – target a national flag registry.
Freight rates for Russian oil shipments from the Baltic Sea ports to India have fallen in July-August as more tankers have become available, but this could change if new sanctions are imposed on Moscow,