21.07.2025 10:11

The European Union significantly escalated its sanctions against Russia on Friday, targeting not only Russian entities but also key facilitators of its war effort. This broad-based action, part of the EU's 18th sanctions package, aims to cripple Russia's financial capacity to sustain its invasion of Ukraine. A prominent figure caught in the net is Hossein Shamkhani, a highly influential Iranian oil trader with close ties to the Iranian government.

Shamkhani, described by the EU as a pivotal figure in Russia's clandestine oil shipping network, along with his Dubai-based companies, Admiral Group and Milavous Group Ltd., now faces comprehensive sanctions. The EU explicitly cited Shamkhani’s role in a sector generating substantial revenue for the Russian Federation, highlighting Iran's complicity in circumventing sanctions and maintaining the flow of funds to Moscow. This move underscores the EU's determination to curtail Russia's reliance on oil revenues, even amidst continued strong exports to countries like China and India.

Further intensifying pressure, the EU's latest sanctions package includes a ban on roughly twenty Russian banks, effectively barring them from the SWIFT international payment system. A complete transactional ban further isolates these banks from the global financial landscape. Moreover, the EU permanently sanctioned the Nord Stream pipelines, ensuring their complete and irreversible decommissioning.

Finally, demonstrating adaptability in its approach to sanctions, the EU revised its mechanism for setting a price cap on Russian oil. No longer fixed at $60 per barrel, this cap will now dynamically adjust, remaining $15 below the prevailing market price. This flexible approach, reviewed semi-annually, promises to maintain effectiveness even as market conditions evolve. This comprehensive and multifaceted sanctions package, obtained from internet sources, represents a significant escalation in the EU's efforts to counter Russia's aggression.