EU ambassadors failed to agree on new sanctions against Russia. One of the unresolved issues is the price ceiling on Russian oil, a provision that is still in draft form, but it is unclear whether it will remain in the final version.
Bratislava has linked its agreement to the new sanctions package to a review of a separate European Commission initiative – a plan to phase out Russian energy by the end of 2027.
Instead, Foreign Minister Margus Cahkna suggested that Estonia could block the adoption of the EU’s 18th sanctions package against Russia if it excludes the introduction of a lower ceiling on Russian oil prices.
The European Commission presented the sanctions draft in June, then the main proposal was to lower the price ceiling on Russian oil from the current $60 per barrel to $45. Since the policy is coordinated within the Group of Seven (G7), the EU tried to get approval from other G7 countries, particularly the US, during a summit in Canada last month.