European Union drafts 18th round of sanctions against Russia, mainly targeting Russian energy revenue

On June 2nd, the European Union Commission issued a statement on the 2nd that the European Union is formulating the 18th round of sanctions against Russia, focusing on Russian energy revenue. The new round of sanctions will cover "Nord Stream" infrastructure, Russian banking, and further lowering the crude oil price cap. On the same day, European Union Commission President Ursula von der Leyen met with US Republican Senator Lindsey Graham and his party in Berlin to coordinate with the US on sanctions against Russia. Ms. von der Leyen welcomed Mr. Graham's pledge to increase pressure on Russia and plans to send the bill to the U.S. Senate next week, the European Union said in a statement after the meeting, adding that the combined impact of the sanctions would be significantly enhanced if the European Union measures were combined with those of the United States.