Brussels, 18 July (LaPresse) – The 27 Member States have reached agreement on an 18th package of sanctions against Russia. The package has received initial approval from permanent representatives and will be adopted definitively by the General Affairs Council later today. It includes significant new measures in the energy, financial and trade sectors. The package introduces a new dynamic price cap mechanism for Russian oil, which will set the price at 15% below the average market price of Russian crude oil. ‘The EU has just approved one of the toughest sanctions packages against Russia to date. We are further cutting the Kremlin's war budget, targeting another 105 ships in the shadow fleet, their accomplices, and restricting Russian banks' access to financing,’ EU High Representative for Foreign Affairs Kaja Kallas wrote on X.