EU (almost) unanimous on the next sanctions package against Russia

“Another decisive step to tighten the pressure on Russia. Our 21st sanctions package targets the sectors with the highest impact: energy, financial services, crypto, and trade,” wrote the President of the European Council, Antonio Costa, on X.

The price cap on Russian crude oil will be frozen for a year, limiting the Kremlin’s profits from the sale of the raw material. This means that for the next 12 months following the introduction of the sanctions, Russian seaborne oil can be sold for a maximum of $44.10. Restrictions and transaction bans targeting the Russian financial sector will also be introduced. The ambassadors’ agreement to implement the next sanctions package must still be confirmed by the member states’ capitals.

Negotiations on the package were prolonged due to a lack of consensus among member states regarding the price of the Russian commodity. Greece offered resistance, as it was concerned about the possibility of transporting Russian LNG. An exception was negotiated, which consists of allowing the transfer of LNG to third countries and related purchases under contracts concluded before 24 February 2022—that is, before Russia’s full-scale invasion of Ukraine. The issue of Russian LNG exports was already settled in the 19th sanctions package, according to which a total ban on importing this commodity from Russia was introduced starting from 2027. Athens is seeking to revise this decision, fearing that it will make the transport of the raw material completely impossible. According to the Financial Times, the Greek operator Dynagas has transported over 10 million tonnes of Russian LNG since the beginning of 2025 based on long-term supply contracts to third countries.

Unfortunately, the 21st package will not include an entry ban to the EU for individuals who served in the Russian forces during the war in Ukraine. Only a provision regarding “taking the necessary measures to restrict visas for former Russian soldiers” was included. France and Italy, which receive the highest number of Russian tourists, were the primary opponents here. Concerns regarding pressure on their consular services processing Russian visa applications were cited as the argument.