ANALYSIS: Will 18th Russia Sanctions Package Hurt Russia? ‘Not Enough’ Analysts Say

The 18th package of sanctions against Russia comes into force, lowering the price cap for crude oil from $60 to $47.6 per barrel, and further increasing the list of bans against Nord Stream, Russian banks and petroleum products.

The EU approved the 18th package of sanctions against Russia on July 18 in response to the Kremlin’s full-scale invasion of Ukraine in 2022. The majority of the sanctions list became active after the European Commission (EC) announced it.

Another part of the sanctions, ban on transactions with 22 additional Russian banks took effect over the last weekend, on August 8, 2025, according to Podesta.

"The EU just approved one of its strongest [set of] sanctions against Russia to date,” EU foreign policy chief Kaja Kallas wrote on X on July 18.

The 18th package of sanctions is tough, but again, not enough. The reduced oil price cap of $47.6 per barrel, set dynamically at 15