A gravity platform for the production of liquefied gas at the center for the construction of large-tonnage offshore structures of Novatek-Murmansk company stands in the village of Belokamenka in the Murmansk region, Russia, in 2023. The European Union passed new sanctions against Russia Thursday but allowed a carve-out for Greece to continue shipping Russian LNG to other countries. File Photo by Alexey Babushkin/EPA
July 23 (UPI) -- The European Union passed new sanctions against Russia, but added a carveout for Greece to keep shipping Russian gas to other countries.
The EU reached the deal to add pressure on Russia's "war machine," the bloc said in a statement, creating the largest sanction package in four years. It also adds new measures targeting war crimes, internal repression and malicious cyber activities.
The deal included a proposed ban on shipping Russian gas outside of the EU, but Greece objected because of contracts Greek companies have had in place since 2015, Politico reported. The carve-out blocks EU countries from signing new shipping deals but allows Greece to continue its contract, two EU diplomats said.
The EU also agreed to freeze its price cap on Russian crude oil for a year. The cap is now at $44.10 per barrel and was about to rise to about $58 per barrel in response to fighting in Iran. It's recalculated every six months.
