EU proposes to broaden sanctions on Russian crude in sweeping new package
- Posted on February 7, 2026
- By Business News Today
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EU proposes to broaden sanctions on Russian crude in sweeping new package
The European Commission has proposed a broad ban on services supporting Russia's seaborne crude oil exports, aiming to significantly cut Moscow's war funding. This move goes beyond existing sanctions and could render the G7's price cap on Russian crude obsolete, impacting major importers like India and China.
