The European Union has approved a new package of sanctions on Russia, including restrictions on banking and fuels made from Russian petroleum, and a revised oil price cap – the 18th raft of measures since the country’s full scale invasion of Ukraine.

The E.U. approved plans to lower a price cap on Russian oil and ban transactions with 22 more Russian banks, pressing ahead with sanctions without the U.S.

Crude oil futures rose on Friday while gasoil futures jumped to a 17-month high as investors weighed new European Union sanctions against Russia.