The European Union has imposed sanctions on nine entities and individuals linked to Russia’s shadow fleet, aiming to curb Moscow’s revenue from energy exports. The Council of the EU targeted five businessmen and four organizations associated with the shadow fleet’s operations, which are indirectly connected to major Russian oil companies such as Rosneft and Lukoil. This move is part of the EU’s broader strategy to tighten economic pressures on Russia amid ongoing geopolitical tensions.
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Over the past month, Brent Crude has experienced a decline of approximately 3.84%. The recent sanctions announcement may further influence market dynamics as investors assess the potential impact on global oil supply chains. Currently, the 1-day technical analysis signal for Brent Crude is Sell, indicating a bearish sentiment in the short term. Investors can explore more updates, prices, and analysis across global markets at Commodities.