The European Union has adopted a new package of economic sanctions against Russia, as part of ongoing efforts to increase pressure on Moscow over its continued military campaign in Ukraine.

The new measures include a lowered price cap on Russian oil exports, as well as expanded restrictions on the energy and technology sectors. Several companies and individuals linked to supporting the Russian war effort were also targeted.

In a statement, the European Commission said the move aims to undermine Russia’s ability to finance its war and curb revenues from energy exports, noting that the decision was made in coordination with Western allies, including the United States and the United Kingdom.