The European Commission has proposed lowering the price ceiling for Russian oil to $47.6 per barrel.

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The European Commission (EC), as part of the new 19th package of sanctions against RUSSIA, proposed lowering the price ceiling for Russianoil prices to $47.6 per barrel, said EC President Ursula von der Leyen.

The EU is considering sanctions against another 118 vessels in Russia's "shadow fleet." In total, more than 560 vessels are already under EU sanctions, the EC chief added.

The EU will also introduce  a ban on  imports of Russian LNG to European markets by January 1, 2027.

In addition, as part of the new sanctions package, the European Commission will ban the EXPORT  of a number of ores, metals, chemicals and salts, and tighten export controls for industries in Russia, India and CHINA .

Moscow considers Western sanctions illegal. Russian presidential spokesman Dmitry Peskov stated that the Russian economy continues to operate under "a huge number of sanctions" and has developed "a certain immunity" to them.

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