New Delhi, July 19 -- The European Union's recent sanctions on Russian oil, energy, banking and defence industries are aimed at degrading Moscow's "war economy" while preserving global oil market stability, said Ambassador of the Delegation of the European Union to India Herve Delphin on Saturday.

Delphin, in a post on X, outlined the EU's sanctions policy against Russia, which also targeted a refinery in India, emphasising that it does not prevent countries from purchasing Russian oil and thus avoiding disruptions to global supply.

The refinery in India is under Rosneft, a leader in the Russian refining industry, as one of its main shareholders.

As per the EU Envoy, the 18th sanctions package reduces the price cap on Russian oil from ...