Three EU countries push back against lowering price cap on Russian oil, Danish FM

The minister expressed doubts that political agreement on the 18th sanctions package against Russia would be reached today. However, he said that if it doesn't happen today, it will happen tomorrow, July 16.

Rasmussen stressed the importance of "capitalizing on the momentum created by Trump's new statements yesterday" to increase pressure on Russia and implement new sanctions.

"I have long been advocating for a more transatlantic approach. We should push the Russian economy much more, so I think one of the key elements in the sanction package is the lowering of the oil price gap," Rasmussen said.

According to him, there is still no EU-wide consensus, and three countries are currently opposed.

"Whether it will be during the meeting today or later today or tomorrow, I can’t foresee for sure, but I’m very, very optimistic, and I think it’s now time... really, to push Putin to the negotiating table," the minister added.

EU sanctions against Russia

The EU is working to approve its 18th package of sanctions against Russia, which could become one of the toughest since the start of the full-scale war in Ukraine.

Today, July 15, EU foreign ministers are gathering in Brussels to discuss the new sanctions package.

The proposed measures include sanctions against specific Russian individuals and organizations, targeting the so-called shadow fleet, and reducing the oil price cap from $60 to $45 per barrel.

Reportedly, Slovakia is opposing the package due to the European Commission's plan to completely ban Russian gas. However, Slovak Prime Minister Robert Fico said the Commission has offered his country guarantees. According to Politico, Malta is also against lowering the oil price cap.

EU foreign policy chief Kaja Kallas expressed hope that ministers will be able to approve the new sanctions against Moscow either today or tomorrow.