The EU agrees to the eighth package of sanctions against Russia that includes a cap on the price of Russian oil

The 27 states of the European Union have reached an agreement this Wednesday to approve the eighth package of sanctions against Russia, which will include a cap on the price of Russian oil.

This is the European response to the annexation of four Ukrainian regions (Donetsk, Lugansk, Kherson and Zaporizhia) by Russia.

As confirmed by the Czech Presidency of the Council, the Twenty-seven at the ambassadorial level have reached a “political agreement” this morning to adopt the eighth round of sanctions against Moscow since the beginning of the military aggression against Ukraine.

In any case, European sources indicate that the text must now be finished and adopted by written procedure, so the new restrictive measures will see the light of day on Thursday morning, before the start of the informal summit of heads of state and of the EU Government in Prague.

That same day they will be published in the Official Gazette of the EU and will come into force, thus meeting the deadlines set by the European bloc to respond to the escalation of Russian President Vladimir Putin, in a matter of days and before the summit in the Republic Czech.

Full details of the package remain to be known, which will further limit imports of Russian products and European technology exports in an attempt to undermine Russia’s industrial and military capacity. The ‘blacklist’ of individuals and companies responsible for the illegal consultations in Donetsk, Lugansk, Kherson and Zaporizhia and the mobilization of reservists will also be expanded.

Likewise, member states have been discussing in recent days the “legal basis” to apply a cap to the price of Russian crude, in an attempt to reduce Russia’s income and stabilize markets. European sources confirm to Europa Press that this measure has also been agreed upon by the Twenty-seven.