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EU agrees 21st sanctions package against Russia after Greece drops veto
The Kyiv Independent • • world
Key Points:
- EU ambassadors agreed on the bloc's 21st package of sanctions against Russia on July 23, after delays caused by objections from Greece, though the package is significantly watered down from the original European Commission proposal.
- A key measure retained is a 12-month price cap on Russian oil set at $44 a barrel, preventing the price from rising above this limit despite market volatility, aiming to reduce Russia's oil revenues.
- The sanctions list includes nearly 250 entities, the highest number added in a single package since 2022, and targets 32 Russian banks and vessels assisting Russia’s shadow fleet.
- Some proposed measures were dropped or postponed, including trade restrictions on Russian fish and a ban on Russian soldiers, while some countries secured exceptions, such as Bulgaria blocking sanctions on Patriarch Kirill and Greece allowing pre-invasion LNG contracts to continue.
- The package is expected to be formally adopted by EU ministers through a written procedure soon, with further details to be released thereafter.
