EU's 18th package lists 105 more vessels and cuts the oil price cap to $47.6

The EU's 18th sanctions package adds 105 vessels to its list of banned ships, taking the total to 444, and lowers the price cap on Russian crude from $60 to $47.6 a barrel with reviews every six months, the Baltic Exchange reports. The listed ships are accused of evading the price cap, carrying military equipment or suspected stolen Ukrainian grain. Ship managers, traders, vessel captains, India's Nayara refinery and the Gabon flag registration firm Intershipping Services were also targeted, and imports of products refined from Russian crude in third countries were banned.

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