EU ambassadors have reached a political agreement on the 21st sanctions package against Russia, an EU diplomat confirmed on Thursday, July 23rd, 2026. The package targets sectors with the highest impact, including energy, financial services, crypto, and trade, according to European Council head Antonio Costa.
The sanctions include a 12-month freeze on the Russian oil price cap and a one-year exemption allowing the transfer of Russian liquefied natural gas (LNG) to third countries, with automatic renewal. European Commission President Ursula von der Leyen stated this measure aims to ensure "the Russian war machine does not benefit from market shocks."
The final agreement was delayed due to objections from member states but was secured after Greece was granted an exemption permitting one of its shipping firms to continue transporting Russian LNG from the Arctic. An EU diplomat noted, "Member states showed solidarity with Greece and it's expected that Greece will do the same with others in the future."
Ambassadors from the EU's 27 member states had been racing to lock in a price cap on Russian crude exports at $44 before a deadline that could have caused the price to increase.
Bulgaria successfully blocked the inclusion of Russian Orthodox Patriarch Kirill on an asset freeze and visa ban blacklist.
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