Brief by Shorts91 Newsdesk / 01:07pm on 18 Jul 2025,Friday India Global
The EU rolled out its 18th sanctions package on July 18, 2025, targeting Russia’s oil exports and financial networks. It designated Rosneft’s 49.13% stake in India’s Vadinar (Nayara Energy) refinery, banning export of petroleum products from it to Europe . The oil price cap was slashed from $60 to ~$47.6/barrel, set dynamically at ~15% below market rates and updated biannually . Additionally, the sanctions blacklist 105+ ships in Russia’s “shadow fleet,” curb Nord Stream-related transactions, and hit more Russian banks and Chinese financial enablers . These measures severely strain Russia’s wartime oil revenue channels and directly impact India’s fuel exports and energy sourcing. (PC: Reuters)
