Overview
- The EU ambassadors' committee, COREPER, agreed the 21st sanctions package on Thursday, July 23, finalizing political and technical details before the measures move to formal adoption by EU bodies.
- The deal keeps the current oil price cap in place for 12 months as a tool to limit Russian oil revenue and adds a list of 'shadow fleet' tankers to stop evasive shipping practices.
- New financial steps freeze assets and widen transaction bans for many Russian banks while adding targeted rules on crypto platforms to curb sanctions evasion through digital assets.
- The package expands trade restrictions on companies tied to Russia's military industry and establishes a framework for visa limits on people who took part in combat on Russia's side, with entry rules softened after member states' pushback.
- Negotiations produced a concession for pre‑invasion LNG contracts signed before February 24, 2022, subject to annual review, a compromise driven by southern EU states that signals the package seeks to balance pressure on Russia with member states' economic concerns and practical implementation challenges.