EU ambassadors approved the 21st package of sanctions against Russia

The permanent representatives of the European Union member states have agreed on the 21st package of sanctions against Russia. Once the technical work is completed, the decision is to be adopted through a written procedure, which is scheduled to begin this afternoon.

According to him, negotiations on this package were difficult, but all outstanding issues were resolved, allowing the European Union to maintain its unity, just as it did when adopting previous sanctions packages.

The diplomat emphasized that all EU member states were united in their desire to take further decisive measures to limit Russia’s ability to continue its war of aggression against Ukraine. At the same time, the diplomat speaking to journalists emphasized that the agreement reached today will continue to increase pressure on Russia and demonstrates a clear commitment to supporting Ukraine.

The diplomat also noted that this sanctions package is significant and represents another step toward curtailing the capabilities of Russia’s war economy.

In particular, he said, an agreement was reached to extend the current cap on oil prices for another 12 months, which will deprive Russia of significant oil revenues amid volatility in energy markets.

In addition, a compromise was reached on the unresolved issue regarding the transfer of LNG to third countries. Specifically, a limited exemption applies to the transfer of LNG to third countries and related purchases under contracts concluded before February 24, 2022. Any expansion of these transfers by EU operators is restricted. The Council will review the exemption annually.

The package also contains the largest number of specific lists among all sanctions packages over the past four years. It includes broad restrictions and bans on transactions targeting the Russian financial sector, as well as new measures against cryptocurrencies. Additional lists of vessels belonging to the so-called “Shadow Fleet” and their operators were also agreed upon. The package requires that necessary measures be taken to restrict visas for former Russian combatants. It also includes new trade restrictions that further limit Russia’s military-industrial complex.

A European diplomat informed journalists of this following a meeting of the Committee of Permanent Representatives (COREPER), Interfax-Ukraine reports.