EU Countries Have Agreed on the 21st Round of Sanctions Against Russia: What Restrictions Will Be Imposed
23 July 14:38
On Thursday, July 23, European Union member states agreed on the 21st package of sanctions against Russia over its war in Ukraine. The decision was made at a regular meeting of the permanent representatives of EU member states following several weeks of negotiations, during which they sought to reach a compromise on specific restrictions. The package must now be formally approved by the EU Council. This was reported by "Komersant Ukrainian", citing DW.
Political Agreement Reached
According to an EU diplomat speaking on condition of anonymity, the permanent representatives reached a political agreement on the package. The technical work will now be finalized, and the written procedure for its final adoption by the EU Council will begin this afternoon.
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According to the diplomat, the negotiations were difficult, but EU countries managed to resolve the remaining differences and maintain unity, just as they did when agreeing on the previous 20 packages. EU member states, he emphasized, were united in their desire to take tough measures that would further limit Russia’s ability to continue the war against Ukraine. He said the agreement reached maintains pressure on Russia, demonstrates the EU’s commitment to supporting Ukraine, and represents another significant step toward curbing Russia’s military economy.
One of the key elements of the package was the extension of the current price cap on Russian oil for 12 months. According to an EU diplomat, amid instability in energy markets, this measure will deprive Russia of significant oil revenues.
The last unresolved issue concerned the transport of Russian liquefied natural gas to third countries. The compromise provides for a limited exemption for such shipments and related purchases under contracts concluded before February 24, 2022. At the same time, European operators are prohibited from expanding the volume of such operations, and the EU Council will review the exemption annually.
According to the diplomat, the 21st package includes the largest number of individuals added to the sanctions list among all packages adopted over the past four years.
Widespread Restrictions on the Russian Financial Sector
The package also provides for sweeping restrictions and bans on transactions involving the Russian financial sector, new measures against cryptocurrencies, additional additions to the sanctions list of “shadow fleet” vessels and those facilitating their activities, as well as new trade restrictions designed to further limit the capabilities of the Russian military-industrial complex.
In addition, the package calls for the development of necessary measures to restrict the issuance of visas to former Russian participants in the war against Ukraine.
Another decisive step toward increasing pressure on Russia
“Another decisive step toward increasing pressure on Russia. Our 21st sanctions package targets sectors where its impact will be greatest: energy, financial services, the cryptocurrency sector, and trade,” wrote European Council President António Costa on social media platform X.
“Our support for Ukraine, as well as for a just and lasting peace, remains unwavering,” he emphasized.
The European Commission presented the draft of the 21st package on June 9. It included new restrictions on Russia’s “shadow fleet,” the energy and financial sectors, and the export of technology to Russia’s military-industrial complex, measures against companies from third countries that help circumvent sanctions, as well as—for the first time—restrictions on Russian fishing and a ban on entry into the European Union for anyone who served in the Russian armed forces after the start of the full-scale war.
However, agreement on the package has been delayed due to disagreements among EU countries. At the meeting of foreign ministers on July 13, no agreement was reached. At that time, the EU’s top diplomat, Kaja Kallas, acknowledged that adopting new sanctions packages is becoming increasingly difficult, as they are having a growing impact on the economic interests of the member states themselves.
On July 15, EU countries were also unable to agree on the 21st sanctions package. Since the European Union made the price cap mechanism for Russian oil a floating one a year ago, without a new decision, the current cap would have automatically risen in line with rising global prices. To prevent this and maintain pressure on Russia’s oil revenues, member states decided to extend the current price cap for another week—until July 23—buying additional time for negotiations on the entire sanctions package.
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