The EU aims to adopt the 21st package of sanctions against Russia by July 15
The European Union plans to formally adopt a new, 21st package of sanctions against Russia by July 15, 2026. The need for the document’s prompt adoption is driven by the approaching deadline for updating the price cap on Russian oil. The key objective of the restrictions is to prevent a sharp rise in the cost of Russian crude on the global market due to the geopolitical crisis.
The main element of the future sanctions package will be the legal freezing of the price cap on Russian crude oil. Currently, the EU has a mechanism in place whereby the maximum price is recalculated every six months using the following formula: the average market price of oil over the past six months minus 15%.
As of January 15, 2026, this limit is set at $44.1 per barrel. However, due to the blockade of the Strait of Hormuz and the war in the Middle East, global prices have skyrocketed. According to energy experts, the scheduled update of the formula on July 15 would automatically raise the cap to about $75 per barrel, allowing the Kremlin to generate windfall profits to finance the war.
To avoid this scenario, the European Commission and the Council of the EU are proposing to temporarily suspend the current formula and set a fixed cap in the 21st sanctions package. According to European officials, intense discussions are currently underway in Brussels regarding the specific figure. It will not be possible to keep the price at $44.1 due to a lack of consensus, but the allies do not intend to raise it to $75 either. The most likely compromise solution is said to be setting the price cap at around $60 per barrel.
European Truth reports this from Brussels.
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