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EU hits Russia with sweeping new sanctions; including curbs on a Russian-owned oil refinery in India
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The EU on Friday adopted a sweeping new package of sanctions on Russia over the Ukraine war, looking to pile more pressure on the Kremlin by lowering a price cap for Moscow's oil exports. As part of the new sanctions designed to sap Russia's war chest, diplomats said the EU has agreed to lower its price cap on Russian oil exported to third countries around the world, to 15 percent below market value.
Author: ET
Published: July 18, 2025
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