EU Extends Russian Oil Price Cap at $44.10 Per Barrel Through July 2027

EU member states agreed on the 21st package of sanctions against Moscow this July, maintaining Russia's oil price cap at $44.10 per barrel through July 2027. The sanctions package adds 32 Russian banks to trading ban lists and includes measures targeting crypto asset companies and oil trading platforms. European Commission President Ursula von der Leyen stated the sanctions will continue to weaken Russia's economic war machine.
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