Former Russian President Dmitry Medvedev on Friday predicted the Russian economy would withstand the European Union's latest sanctions package and said Moscow would intensify its strikes against Ukraine.

The EU also targeted the Nord Stream pipelines between Russia and Germany to prevent Putin from generating any revenue from them in future, notably by discouraging would-be investors. Russian energy giant Rosneft’s refinery in India was hit as well.

The European Union and Britain on Friday sought to ramp up economic pressure on Russia to halt the war in Ukraine by slashing a price cap meant to choke off revenues from key oil exports.The EU and Britain said they would lower the cap on Russian oil exported to third countries around the world to 15 percent below market value.