The European Union announced its 19th sanctions package against Russia, targeting Chinese entities involved in oil refining and trading. The package includes a $47.60 oil price cap, asset freezes on companies, sanctions on the shadow fleet transporting Russian oil, and a potential acceleration of the Russian LNG ban. New sanctions also target crypto platforms and foreign banks linked to Russian payment systems. The EU is seeking stronger U.S. cooperation on sanctions, while Ukraine welcomes the measures but anticipates further developments.

Prepared by Lauren Mitchell and reviewed by editorial team.