EU expected to agree on new Moscow sanctions, Russian oil price cap, Reuters reports
The EU is close to reaching a full agreement on its 18th sanctions package against Moscow, which will include a new Russian oil price cap, Reuters reported on July 13, citing four sources within the bloc.
The EU is expected to reach a full agreement on July 14 ahead of a foreign ministers' meeting the next day that could formally pass the sanctions package, the sources said.
The EU has been unable to pass the sanctions due to opposition from Slovakia, whose authorities have increasingly aligned themselves with Moscow and oppose the package due to concerns with the transition away from Russian gas.
Czech Prime Minister Petr Fiala, in a letter, urged Slovak Prime Minister Robert Fico not to block approval of the sanctions package, warning Fico he could isolate Slovakia within the EU, Radio Prague International reported on July 13.
"We have common interests in ensuring the security of our citizens. Cooperation within the EU and NATO is a prerequisite," Fiala said.
The new sanctions will target two Chinese banks and a Russian-owned oil refinery in India, one of the sources told Reuters.
The Russian oil price cap is expected to lower the maximum cost per barrel to $47, by subtracting 15% from the 22-week average price, and will be revised every six months instead of every three, another one of the sources said.
Bloomberg reported on July 11 that the proposed oil price cap would be dynamic and not set the same way as the current $60 per barrel cap, adding that the price cap would be revised every three months based on market rates.
The EU is set to introduce the "toughest sanctions... imposed (on Russia) in the last three years" in coordination with U.S. senators, French Foreign Minister Jean-Noel Barrot said in a television interview on July 7.
Estonian Foreign Minister Margus Tsakhna has previously said the Baltic country could veto the EU's 18th sanctions package against Moscow if the oil price cap is not lowered to increase pressure on Russia.
Mediterranean EU members, including Cyprus, Greece, and Malta, have opposed a tougher Russian oil price cap but are open to the proposal, people familiar with the matter told Bloomberg.
The three countries have been reluctant to impose a new cap without support from the U.S. or the Group of Seven (G7).
U.S. President Donald Trump announced on July 13 that the United States will send additional Patriot air-defense batteries to Ukraine, but added that the U.S. would be reimbursed for their cost.
Trump will announce a new weapons plan for Ukraine, which is expected to include offensive weapons, Axios reported on July 13, citing two sources familiar with the matter.
