By Meetu Jain
NEW DELHI, 19 July, 2025: India’s Ministry of External Affairs spokesperson, Randhir Jaiswal has during a press briefing on 18 July, 2025, New Delhi, brushed aside the latest European Union (EU) sanctions against Russia on 18 July, 2025, saying, it considers the country’s energy security “paramount importance to meet the basic needs of its citizens”. It also said there should be no double standards in the energy trade, referring to European gas imports from Russia.
The EU sanctions package also underscores the bloc’s willingness to target third-country actors facilitating Russian evasion, signaling a broader, more coordinated sanctions regime. With India rebuffing the EU sanctions regime, it remains to be seen how India’s balancing acts in foreign policy play out in the emerging volatile world energy scenario.
Russia has rapidly become India’s leading crude oil supplier since the invasion of Ukraine in 2022, displacing traditional Middle Eastern partners. As of the first half of 2025, Russia supplied about 35–40% of India’s total oil imports, making it by far the largest source, followed by Iraq, Saudi Arabia, and the UAE.
India has expanded its oil import network from about 27 countries in 2022 to around 40 today, including new suppliers like Guyana, Brazil, and Canada. Imports from the US surged more than 50% in the first half of 2025, and Brazilian shipments grew 80% year-on-year.
Earlier, the EU adopted its 18th sanctions package against Russia, marking a significant escalation of measures aimed at constricting Russia’s ability to finance and sustain its war against Ukraine. This package targets Russia’s energy, financial, and logistical sectors, while also addressing sanctions evasion and third-country support to Russia.
Key measures in the EU’s 18 sanctions package :
-
The cap on Russian oil is reduced from $60 to $47.6 per barrel, and the mechanism is made dynamic: it will now remain 15% below the average market price, with automatic adjustments every six months and possible ad-hoc changes as needed.
-
Ban on “Shadow Fleet” Operations: The EU blacklists an additional 105 vessels linked to Russia’s “shadow fleet”—aging tankers used to bypass sanctions—bringing the total to over 400 vessels. These ships are denied access to EU ports and services.
-
Expanded Sanctions on Energy Imports: The package introduces a ban on importing petroleum products refined from Russian crude oil, even if processed in third countries such as India and Turkey. This closes a major loophole used to disguise Russian oil.
-
Transactions with 22 Russian banks, the Russian Direct Investment Fund, and its subsidiaries are prohibited.
-
All transactions, including direct and indirect use, with the Nord Stream pipelines closed after the 2022 sabotage, are banned.
-
Eleven companies outside Russia—including four in mainland China and three in Hong Kong—are sanctioned for facilitating sanctions evasion.
-
Individual and Entity Sanctions: The package adds 91 entities and 14 individuals to the EU sanctions list.
-
Broader Anti-Circumvention Measures: New measures are introduced to prevent third countries from assisting Russia in evading sanctions, and the threshold for sanctioning third-country financial institutions and crypto-asset providers is lowered.
The adoption of the package followed a prolonged veto by Slovakia, which was lifted only after the EU offered assurances regarding Slovakia’s concerns about a proposed phase-out of Russian gas imports by 2027. The final approval required unanimous consent from all 27 EU member states.
EU officials and member states have described this as one of the strongest sanctions packages to date, aiming to directly weaken Russia’s war economy and limit its ability to circumvent existing measures. The dynamic oil price cap and expanded bans on “shadow fleet” and third-country refined products are designed to maximize pressure on Russian energy revenues—a critical source of funding for the Kremlin.
EU sanctions against Russia press release
