Tsahkna: 21st Sanctions Package Maintains Painful Oil Price Cap for Russia
The package adds 218 listings and blocks 94 Russian banks, while freezing the oil price cap at $44.1 a barrel for another year.
- On Thursday, July 23, 2026, the European Commission passed the bloc's 21st sanctions package against Russia, designating 218 new entities in the largest such measure since 2022.
- Seeking to restrict Russia's war efforts, the European Commission targeted the military-industrial complex with 56 new listings, focusing on long-range drones and their supply networks.
- Ninety-Four Russian banks, roughly 50% of the sector, now face full trade blocks, while the EU added 41 shadow fleet vessels to its sanctions database, permitting member states to confiscate assets.
- To secure Greek approval, the European Commission granted an exemption allowing continued LNG transport to third countries, while establishing a system requiring notification for any LNG tanker sales.
- While work on the 22nd package has already begun, EU officials maintain that Gazprombank remains necessary for managing "still legitimate trade going on" between the bloc and Russia.
26 Articles
26 Articles
EU Targets Russian Shadow Fleet, Banks and Crypto in Sweeping 21st Sanctions Package
The European Union has approved its 21st package of sanctions against Russia, expanding restrictions on the country’s energy, financial and military sectors while adding another 41 vessels to its growing...
Brussels Allows Member States To Sell Russian Shadow Fleet Tankers’ Cargo
The European Union approved its twenty-first package of sanctions against Russia this Thursday with a change that radically alters the position held until now: member states will be able to confiscate and sell the oil and other goods carried by the ‘shadow fleet’ once a vessel has been boarded in a naval operation. Until now, intercepting a tanker meant immobilising it. The crude stayed on board, with no clear destination. “The problem was what …
The measures of the 21st EU package of sanctions against Russia are intended to further restrict the Russian Federation ' s ability to wage war in Ukraine and to attack civilians and the infrastructure of that country.
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