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Estonia threatens to block new EU sanctions on Russia over oil prices
2025-07-10 23:20:29 / BOTA
Estonian Foreign Minister Margus Tsahkna has threatened that his country will block the European Union's (EU) 18th package of sanctions against Russia if the European bloc does not agree to lower the oil price ceiling from $60 to $45 per barrel, Anadolu reports.
"We have a very clear position that the oil price cap should be part of this package," Tsahkna told Estonian broadcaster ERR, adding that lowering the cap would be the "most powerful element" in the EU's latest attempt to curb Moscow's energy revenues.
The current EU cap, set in 2022 when oil was trading above $100 a barrel, prohibits EU-flagged ships from transporting Russian crude sold above that limit. It also prohibits EU-based service providers from cooperating with these shipments.
Oil is currently trading at around $69 per barrel.
Tsahkna criticized efforts by some member states to water down the proposed package. According to Estonian news portal "Delfi", Mediterranean countries with large maritime transport sectors, especially Malta, have pushed for the oil price cap to be excluded from the agreement.
However, Estonia insists that the sanctions should be adopted in accordance with the European Commission's initial proposal. "We have a very strong position on this issue," Tsahkna said, adding that Tallinn hopes that the EU's larger states will support its position.
Last month, European Commission President Ursula von der Leyen proposed lowering the limit as part of broader efforts to reduce Russia's revenues from fossil fuels, which help finance its war in Ukraine.
While the $60 limit has remained unchanged for more than a year, there are growing signs that the G7 countries and the US may now support a more aggressive approach.
The Estonian top diplomat cited recent signals from the US, including a sanctions initiative led by US senators Lindsey Graham and Richard Blumenthal, as evidence of a growing momentum. "If these measures are implemented simultaneously, they could put serious pressure on Russia," Tsahkna said.
Discussions on the new EU sanctions package are still ongoing and no final decisions have yet been made.
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