The European Union's latest effort to restrict Russia's oil revenue is unlikely to hurt Moscow's war effort severely, leaving U.S. President Donald Trump's threat of secondary sanctions one of the few remaining economic levers to pressure the Kremlin.

India has taken a firm stance amid the EU sanctions and threat from the United States over Russian oil purchase, saying that energy security is the prime concern and the New Delhi will do what is needed to be done.

European Union states have approved a fresh sanctions package on Russia over its war against Ukraine, which includes a revised oil price cap and new banking restrictions, after Slovakia lifted its veto.