EU Agrees on 21st Sanctions Package Against Russia

EU member states’ ambassadors have agreed on the 21st package of sanctions against Russia, the Irish Presidency of the Council of the European Union said.

“Pleased we have agreed the 21st package of sanctions in the first weeks of the Ireland’s Presidency. This package further targets Russia’s revenue streams, impedes its shadow fleet and disrupts its supply-chains. Europe stands with Ukraine against Russia’s brutal war of aggression,” said Irish Foreign Minister Helen McEntee.

According to European Commission President Ursula von der Leyen, the package includes a ban on transactions with 32 Russian banks. The price cap on Russian oil has been frozen for one year at $44 per barrel.

The measures also target the energy, financial services, cryptocurrency and trade sectors.

For the first time, vessels supporting Russia’s shadow fleet will be added to the sanctions list.

According to media reports, a full ban on maritime shipments of Russian liquefied natural gas was removed from the package. Several EU member states did not support the measure.

The 21st package must now undergo formal approval, after which the relevant documents will be published in the Official Journal of the European Union.