EU Ambassadors Agree on 21st Sanctions Package Against Russia

European Union ambassadors have reached a political agreement on the bloc’s 21st sanctions package against Russia, marking another step in the EU’s efforts to increase economic pressure on Moscow over its war in Ukraine.

The agreement was reached on Thursday after weeks of negotiations among member states. EU diplomats said the technical work on the package would now be completed, with a written procedure for its formal adoption expected to begin later in the day.

The package includes a 12-month freeze on the price cap for Russian oil, according to EU diplomats. The measure is intended to keep the existing ceiling in place and limit the revenue Moscow can generate from energy exports.

The agreement also includes a one-year exemption allowing Russian liquefied natural gas to be transferred to third countries, with the exemption subject to automatic renewal. The arrangement formed part of a compromise during negotiations and addressed concerns raised by Greece over the impact of restrictions on its shipping and energy interests.

One EU diplomat said member states had shown solidarity with Greece during the discussions and indicated that similar support could be expected for other countries in future negotiations.

The agreement follows a period of disagreement among EU governments over the details of the new sanctions. Earlier discussions had delayed approval of the package, with member states seeking changes and exemptions related to energy, trade and other economic measures.

The EU has progressively expanded sanctions against Russia since the full-scale invasion of Ukraine in February 2022. The restrictions have targeted Russian banks, energy companies, trade, technology and individuals accused of supporting the war effort.

The bloc has also maintained measures aimed at restricting Russian oil revenues, which remain a major source of income for the country’s economy.

The latest agreement comes as the EU continues to balance its policy of increasing pressure on Moscow with concerns among member states about the economic consequences of sanctions. Energy markets, shipping companies and businesses with remaining exposure to Russia have been closely monitoring the negotiations.

Once the technical work is completed, member states are expected to approve the package through the written procedure. The measures will then enter into force according to the formal adoption process.

The agreement reinforces the EU’s continuing sanctions policy while showing the difficulty of maintaining consensus among all member states on increasingly complex restrictions against Russia.