The European Union on Friday agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry.

Both Nayara Energy and Reliance Industries Limited (RIL) are likely to face challenges from the fresh sanctions imposed by the European Union on Russia oil.The EU introduced its 18th sanctions package on Friday,

Europe will not back down in its support for Ukraine. The EU will keep raising the pressure until Russia ends its war,” EU foreign policy chief Kaja Kallas said in a statement.

The EU Friday unveiled sanctions on the Rosneft-owned Nayara Energy’s 20 million-tonne refinery in Vadinar, Gujarat, and lowered the price cap on Russian oil by 15% to $47.6 per barrel from $60.

India condemned the "unilateral sanctions" by the European Union targeting a Rosneft-linked refinery in Gujarat and urged the EU to avoid "double standards" in energy trade.

The spokesperson for Foreign Ministry of Iran condemned the European Council’s “illegal and destructive” decision to impose fresh sanctions on a number of Iranian individuals.

The post Sa’ar hails ‘diplomatic victory’ as EU says it’s holding off on sanctions over Gaza war appeared first on The Times of Israel.

BRUSSELS (Reuters) -The European Council said in a statement on Tuesday that it had imposed sanctions on seven individuals and three entities "responsible for actions aimed at destabilising" Moldova, whose leaders are bidding to join the EU by 2030.