The European Union agreed to block attempts to revive the Nord Stream gas pipelines and lower a price cap for Russian oil sales, among other measures.

The European Union has sanctioned two small Chinese banks in its latest package of measures designed to hobble Russia’s war machine, despite a warning from Beijing to expect consequences. Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank,

The 27 EU member states have agreed an 18th sanctions package targeting Russia for invading Ukraine after being blocked for weeks by Slovakia. The sanctions are intended to further reduce Russian revenues from the export of oil to non-EU countries and impact the Russian financial sector.