EU policymakers on Friday signaled that the price at which non-G7 countries could purchase Russian crude and access G7 logistics services has been lowered.

The European Union on Friday reached an agreement to impose its 18th round of sanctions against Russia over its war in Ukraine after Slovakia ended its protest.

The European Union reached an agreement on an 18th sanctions package against Russia over its war in Ukraine, with a raft of measures aimed at dealing further blows to Russia's oil and energy industry.

The 18th package of sanctions against Russia includes over 100 shadow fleet vessels, a lower price cap on Russian oil and measures targeting banks and companies outside the Russian Federation involved in supporting its war machine.

European Union states have approved a fresh sanctions package on Russia over its war against Ukraine, which includes a revised oil price cap and new banking restrictions, after Slovakia lifted its veto.

The newly adopted 18th package of EU sanctions against Russia includes a lowered price cap on Russian oil — down to $47.60 per barrel — and the EU is already preparing the next round of punitive measures.

BRUSSELS (Reuters) -The European Union reached an agreement on an 18th sanctions package against Russia over its war in Ukraine, with a raft of measures aimed at dealing further blows to Russia's oil and energy industry. Its latest sanctions package on Russia will lower the G7's price cap for crude oil to $47.6 per barrel, diplomats told Reuters.

Discussions on the 18th package of European Union sanctions against Russia during a meeting of the EU General Affairs Council on 18 July are scheduled under the Any Other business (AOB) item, which does not involve voting or decision-making.

Malta had previously expressed reservations about the proposed floating Russian oil price cap in the new round of sanctions but will support the package after receiving reassurances from the European Commission that its concerns will be addressed.