Fri Jul 18 06:51:39 UTC 2025: Okay, here’s a summarized news article based on the provided text, tailored to an Indian audience and reflecting *The Hindu’s* style:

**Headline: EU Tightens Sanctions on Russia, Includes Indian Refinery and Chinese Banks**

**Brussels, July 18, 2025 (PTI) -** The European Union has approved a new and comprehensive package of sanctions against Russia over its ongoing conflict in Ukraine, targeting key sectors including oil exports and financial institutions with ties to Moscow. The 18th round of EU economic sanctions, signed off on Friday, includes a lowered price cap on Russian oil, raising concerns for countries like India and China which are major importers.

The agreement was reached after Slovakia, previously resistant due to concerns about gas supplies, dropped its opposition following assurances from Brussels regarding future energy security. EU Foreign Policy Chief Kaja Kallas hailed the sanctions as one of the strongest to date, vowing that Europe would maintain pressure on Russia until the war in Ukraine ends.

A key component of the new sanctions is a reduction in the price cap on Russian oil exports to third countries to 15% below market value. While not supported by U.S. President Donald Trump, this initiative, originally a G7 plan, aims to limit Russia’s revenue from oil sales, impacting its ability to fund the war effort. The new price cap level will initially be set at $47.6 per barrel.

Of particular note for India, the EU sanctions list now includes a Russian-owned oil refinery operating within India, as well as two Chinese banks accused of facilitating financial transactions with Russia. This development could present challenges for Indian companies and banks engaged in trade with Russia.

Additionally, the EU is targeting Russia’s “shadow fleet” of aging tankers used to circumvent oil export restrictions, as well as taking steps to prevent the reactivation of the Nord Stream gas pipelines. The package also includes expanded restrictions on the export of dual-use goods with potential military applications and further limitations on dealings with Russian banks.

The inclusion of an Indian refinery in the sanctions package is likely to draw scrutiny in New Delhi, which has maintained a neutral stance on the Russia-Ukraine conflict. The move could force Indian entities to navigate a complex web of international regulations and re-evaluate their relationships with Russian companies. The EU has confirmed that the new sanctions will be formally adopted by EU ministers later today.

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