EU adopts 21st sanctions package against Russia

On July 23, 2026 the Council of the European Union approved its 21st sanctions package targeting Russia’s war in Ukraine. The package adds 218 new listings—48 individuals and 170 entities—to the EU sanctions regime, the largest expansion in four years. It focuses on finance, energy, cryptocurrency and “shadow-fleet” shipping.

EU’s 21st Sanctions Package Freezes Oil Price Cap, Hits Russia with Most Listings in 4 Years

Since the full-scale invasion began on February 24, 2022, the EU has issued 20 prior sanction rounds. Negotiations for the 21st package were prolonged by member-state objections. Greece blocked a blanket ban on EU-operated transport of Russian LNG, citing damage to its shipping industry. Austria sought relief for Raiffeisen Bank International’s losses, while Bulgaria opposed sanctions on Patriarch Kirill. The compromise preserved core measures while granting a limited LNG exemption.

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• Financial sector: 94 Russian banks are fully blocked; 33 face transaction bans, covering over half of Russia’s 213 internationally connected lenders.

EU approves new Russia sanctions package targeting banks and crypto networks

• Shadow fleet: 41 vessels are newly listed, raising the total of sanctioned ships to more than 670. Services to shadow-fleet tankers are banned and cargo can be confiscated.

Kyiv Independent

• Oil revenue: The G7-linked oil price cap is frozen at $44.10 per barrel for 12 months, remaining in effect until July 15, 2027.

Reuters

• LNG exemption: EU operators may continue transferring Russian LNG to third countries under contracts concluded before February 24, 2022; volume is capped at the 2025 level and renewable annually.

EU approves new Russia sanctions after Greek veto lifted over LNG exemption

• Cryptocurrency: Transaction bans apply to 14 crypto-service platforms in third countries and to four entities linked to the A7 payment network.

EU approves new Russia sanctions package targeting banks and crypto networks

• Military-industrial complex: 56 new listings, including 37 entities tied to long-range drone production.

EU Targets Russian Shadow Fleet, Banks and Crypto in Sweeping 21st Sanctions Package

Analysts differ on the exemption’s impact. Greek officials argue a full ban would shift LNG shipments to non-EU vessels, undermining EU oversight. No independent assessment of the exemption’s effect on Russian earnings has been published.

EU approves new Russia sanctions after Greek veto lifted over LNG exemption

• “We are hitting Putin where it hurts most: cutting off the financial lifelines he relies on to sustain his war,” — High Representative Kaja Kallas, foreign policy chief

Euronews

• “Today's package comes with the highest number of designations in the last four years. It is first and foremost a financial and economic package, chipping away yet another brick from the foundations of Russia's economy.” — Kaja Kallas

Brick by brick, the EU is dismantling Russia's war economy

The EU is drafting the 22nd sanctions package, focusing on alleged Russian deportations of Ukrainian children and sham elections in occupied territories. The LNG exemption will be reviewed annually, and the oil-price-cap freeze expires on July 15, 2027 unless renewed.

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