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Greece Blocks EU Sanctions, Delays Oil-Price-Cap Review.

7/17/2026

40 6 Full Breakdown

Summary

Story summary

Greece objected to the EU ban on Russian LNG shipments to third countries, saying it would cede market share to non-EU competitors.
The objection blocked EU envoys from agreeing on the 21st sanctions package and led Greece to seek an exemption for Russian LNG shipments after Jan 1 2027.
The stalemate caused the European Commission to propose delaying the oil-price-cap review until January to keep the $44.10 per barrel level.

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Story summary

Greece objected to the EU ban on Russian LNG shipments to third countries, saying it would cede market share to non-EU competitors.
The objection blocked EU envoys from agreeing on the 21st sanctions package and led Greece to seek an exemption for Russian LNG shipments after Jan 1 2027.
The stalemate caused the European Commission to propose delaying the oil-price-cap review until January to keep the $44.10 per barrel level.