EU signs off on ۲۱st package of sanctions against Russia – Europe live

European Commission president Ursula von der Leyen welcomed the adoption of the ۲۱st package of sanctions, saying they “continue to weaken the economic foundations of Russia’s war effort.”

“We’re adding ۳۲ more Russian banks to our transaction ban list. As well as crypto firms and oil trading platforms.

Freezing the oil price cap adjustment for a year, so that the Russian war machine does not benefit from market shocks.

For the first time, we’re targeting vessels assisting Russia’s shadow fleet.

And we took an important step towards formally banning Russian combatants from entering the EU.

Many thanks to Ireland for facilitating this agreement.”

in Brussels

After weeks of delay the EU has reached agreement on the latest package of sanctions against Russia, by handing a concession to Greece.

The EU’s ۲۷ ambassadors reached a political agreement on the ۲۱st round of sanctions, an EU diplomat said, after a final round of talks on Thursday morning.

Talks wrapped up quickly on Thursday morning, after discussions described as “heated” on Wednesday, as Athens upheld its veto.

Greece has secured a one-year exemption from an earlier EU sanctions measure, enabling it to transport liquefied natural gas to non EU countries, as long as the contract was signed before Russia’s full-scale invasion. The carve out protects a large Greek shipping company, Dynagas, that specialised in transporting LNG from Russia’s Yamal fields.

The Greek government sought an exemption on the phase out of transporting Russian gas due to take effect on ۱ January ۲۰۲۷ – despite having agreed to the measure in October ۲۰۲۵.

In pursuit of this goal it had blocked the entire ۲۱st round of sanctions, which includes measures targeting crypto companies, banks and oil traders helping Russia evade sanctions. Now Athens has secured a carve out.

The package includes an agreement to extend the current oil price cap on Russian revenues for a further ۱۲ months, preventing Russia from taking advantage of rising oil prices as a result of the blockade of the strait of Hormuz. The EU’s oil-price cap was due to go up automatically in August, heaping pressure to find an agreement.

The package also includes the highest number of sanctions on individuals in any package in the last four years, according to the EU diplomat.

But a plan to ban Russian ex-combatants from travelling to the EU appears to have been delayed, although there is a pledge to “bring forward the necessary measures”.

Morning opening: EU agrees on ۲۱st package of sanctions against Russia

Jakub Krupa

EU ambassadors have finally signed off on the ۲۱st package of sanctions against Russia this morning, after their previous meetings failed to yield any results amid pressure from individual member states pushing back against elements of the deal.

The technical work on the sanctions will now be concluded, and a written procedure for adoption will be launched this afternoon to formally put them in place.

The deal was reached shortly after the talks resumed early morning as ambassadors raced to avoid embarrassment of not finding a deal before the summer break.

I will bring you all the details as soon as we have them.

The move comes just hours after the top US diplomat, Marco Rubio, met with his Russian counterpart, Sergei Lavrov, in Manila with the question of Ukraine high on the agenda.

It’s Thursday, ۲۳ July ۲۰۲۶, it’s Jakub Krupa here, and this is Europe Live.

Good morning.