The European Union is planning to adopt its 18th sanctions package against Russia.
The new measures focus on the energy and financial sectors. They include a complete ban on transactions related to the Nord Stream 1 and 2 pipelines, and a reduction in the oil price cap.
The oil price cap on Russian oil has been lowered from $60 to $45 per barrel. The sanctions also expand the list of vessels in the "shadow fleet" and plan to ban the import of refined products based on Russian crude oil.
Hungary and Slovakia opposed the package, citing concerns over energy security. The EU's decision highlights its commitment to increasing pressure on Russia to limit its ability to fund military operations.