EU ambassadors agree on 21st Russia sanctions package targeting energy, finance, crypto

Published Jul 23, 10:16 AM UTC

EU member state ambassadors have reached an agreement on the 21st package of sanctions against Russia, as announced by European Council President Antonio Costa. The package targets key sectors including energy, financial services, cryptocurrencies, and trade. A key measure is freezing the price cap on Russian seaborne crude oil at $44.10 per barrel for 12 months to limit Kremlin profits. Negotiations were prolonged due to Greek resistance over Russian LNG transport; an exception was negotiated allowing transfers to third countries under contracts signed before February 24, 2022. The package does not include an entry ban for former Russian soldiers, only a provision for visa restrictions, as France and Italy opposed the ban citing consular service pressures. The agreement must still be formally confirmed by member state capitals.