EU ambassadors agree on 21st sanctions package targeting Russian energy, finance, and trade

Published Jul 23, 10:16 AM UTC

EU member state ambassadors have reached an agreement on the 21st package of sanctions against Russia, covering energy, financial services, cryptocurrencies, and trade. European Council President Antonio Costa announced the deal, which includes freezing the price cap on Russian crude oil at $44.10 per barrel for one year. The package also introduces restrictions on the Russian financial sector. Negotiations were prolonged due to Greek resistance over Russian LNG transport; an exception was negotiated allowing transfers to third countries under pre-February 2022 contracts. Greece seeks to revise a total LNG import ban set for 2027. The package notably excludes an entry ban for former Russian soldiers, opposed by France and Italy due to consular service concerns. The agreement requires formal confirmation by member state capitals.