Ukrainian Foreign Minister Andriy Sybiha highlighted that Russia has responded to global peace efforts and US proposals with heightened terror and escalation; therefore, strengthening sanctions should be a primary method to compel Moscow toward a truce. Numerous sectors and industries still have potential for increased sanctions pressure, which would be detrimental to the Russian economy.
“One of the most painful decisions is to lower the price ceiling for oil. Our proposal is $30 per barrel,” the minister said.
Another way to push Russia towards a just peace could be the confiscation of Moscow’s frozen assets. Ukraine also anticipates continued isolation for the aggressor country.
As reported, the 18th package of EU sanctions will target Russia’s energy revenue and its military industry. Reducing the oil price cap from $60 to $45 per barrel has been suggested. The proposed sanctions list includes several companies that operate or support Russia’s shadow fleet.
The EU also suggests sanctioning two international oil trading networks based in the UAE that provide substantial support to the Russian oil sector, as well as two Chinese companies that contribute directly to Russia’s military operations in Ukraine, including through the transfer of goods used on the battlefield.