Brussels, 23 July 2026
The European Commission welcomed the adoption by EU Member States of the 21st package of sanctions against Russia, further restricting Russia’s ability to fund its illegal war and carry out attacks on Ukrainian civilians and civilian infrastructure.
Russia‘s economy is slowing sharply, with more than two-thirds of the liquid assets of its sovereign wealth fund depleted since the start of the war. The measures focus on the sectors with the greatest impact: energy; financial services, including crypto; trade; and the Russian military-industrial complex.
Energy Measures
The EU has decided to suspend the adaptation of the price cap agreed in the 18th sanctions package for a full year until July 2027. This will keep strong downward pressure on Russian crude exports to ensure that Russia does not benefit from the closure of the Strait of Hormuz. There remains the possibility to review the price cap earlier in case of exceptional market developments.
The EU continues to target critical infrastructure that bolsters Russia‘s military and economic war machine. First, a number of Russian ports and airports are designated under the transaction ban. In addition, the ban is expanded to cover refineries that process Russian oil, with one refinery, the Kulevi refinery, listed. This listing will enter into force with a six-month delay to give the refinery time to diversify away from Russian crude oil. Following an assessment by the Commission, the Council will then decide whether it is still necessary to list the refinery.
Resale of Liquified Natural Gas (LNG) Tankers
The package introduces a notification obligation for LNG tanker sales to third countries. Following a Commission assessment in three months, the Council must decide whether a full ban on tanker sales to Russia should be introduced.
A temporary exemption valid for one year, subject to renewal, is introduced to ensure legal certainty. The exemption is subject to strict reporting and volume requirements.
Infrastructure Ban
The EU continues to target critical infrastructure that bolsters Russia‘s military and economic war machine. First, a number of Russian ports and airports are designated under the transaction ban. In addition, the ban is expanded to cover refineries that process Russian oil, with one refinery, the Kulevi refinery, listed. This listing will enter into force with a six-month delay to give the refinery time to diversify away from Russian crude oil. Following an assessment by the Commission, the Council will then decide whether it is still necessary to list the refinery.
The measures further restrict Russia‘s ability to fund its illegal war and carry out attacks on Ukrainian civilians and civilian infrastructure. The EU’s 21st package of sanctions against Russia aims to weaken Russia’s military-industrial complex and limit its ability to wage war in Ukraine.
Original Article: EU’s 21st Russia sanctions package targets banks, crypto networks, oil revenues and shadow fleet – INSIGHT EU MONITORING — Ieu-Monitoring