The European Union has announced the latest round of sanctions against Russia over the war in Ukraine. In the 18th package of the sanctions announced today, the EU targets Russian oil exports, including refining of Russian oil in other countries. This includes “the biggest Rosneft refinery in India,” and the Indian flag registry.
EU has also announced that the Nord Stream pipelines will be banned. The union has lowered the cap on Russian oil prices to 15% below market prices, to hit the oil revenue earned by Russia.
European Commission’s vice president Kaja Kallas, also the EU High Representative for Foreign Affairs and Security Policy, made the announcements in a post on X. She called it one of its strongest sanctions package against Russia to date
Kallas wrote, “The EU just approved one of its strongest sanctions package against Russia to date. We’re cutting the Kremlin’s war budget further, going after 105 more shadow fleet ships, their enablers, and limiting Russian banks’ access to funding. Nord Stream pipelines will be banned. A lower oil price cap. We are putting more pressure on Russia’s military industry, Chinese banks that enables sanctions evasion, and blocking tech exports used in drones.”
For the first time, we're designating a flag registry and the biggest Rosneft refinery in India.
Our sanctions also hit those indoctrinating Ukrainian children.
We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow. (3/3)— Kaja Kallas (@kajakallas) July 18, 2025
Kallas further added, “For the first time, we’re designating a flag registry and the biggest Rosneft refinery in India. Our sanctions also hit those indoctrinating Ukrainian children. We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow.”
The EU also imposed new restrictions on Russian banks, resulting in 20 more Russian banks being cut off from SWIFT, the international payment settlement system.
While the EU has not named the refinery in India that processes Russian oil, the sanction has been imposed on Vadinar oil refinery at Vadinar, Gujarat. Constructed by Essar Oil, it is currently owned and operated by Nayara Energy Limited, in which Rosneft owns a 49.13% stake.
Kallas also mentioned that a flag registry in India is also being sanctioned. A flag registry contains the list of ships that fly the flags of a country. By sanctioning, EU will have the power to take action against Indian flag carrying ships for their purported support to Russian oil trade.
Notably, EU has not banned the sale of Russian oil, but has sanctioned the sale of Russian Oil above the price cap, which is set 15% lower to the market cap.