EU agrees 18th sanctions package against Russia

The European Union reached an agreement on an 18th sanctions package against Russia over its war in Ukraine, with a raft of measures aimed at dealing further blows to Russia's oil and energy industry.

Its latest sanctions package on Russia will lower the G7's price cap for crude oil to $47.6 per barre, Reuters reported.

The EU just approved one of its strongest sanctions package against Russia to date," said the EU's foreign policy chief Kaja Kallas on X.

"We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow," added Kallas