EU Tightens Russian Oil Cap, But Loopholes Undermine Impact

The ongoing push by EU countries to target Russia’s primary revenue source—oil and gas exports—has received a significant boost. With its 18th sanctions package, the EU has agreed not only to hit Moscow’s energy sector harder but also to impose a significantly lower price cap on Russia’s oil exports. The package faced internal resistance, particularly from Slovakia, which had been blocking the deal over the past week. Slovakia’s current government holds a more pro-Russian stance and is concerned about the EU’s…