The EU announced more sanctions against Russia, and oil prices continue to fall.

With the European Union announcing new sanctions against Russia, oil price futures have fallen. The sanctions target banks, oil tankers, and buyers of Russian crude oil, while also lowering the price cap on oil. Nordea Securities stated this week that since the outbreak of the conflict in Ukraine in 2022, the EU has implemented 18 rounds of sanctions, but they have been "basically ineffective in preventing Russian oil exports." On the other hand, earlier this week, attacks by Ukraine on Russian oil facilities briefly pushed up oil prices.