EU Agrees to 21st Package of Sanctions Against Russia

The European Union has reached an agreement on its 21st package of sanctions against Russia. According to Irish Foreign Minister Helen McEntee, the new measures target revenue streams, disrupt supply chains, and impede Russia's shadow fleet. The EU is standing with Ukraine in its fight against Russia's 'brutal war of aggression.'

The European Council President António Costa stated that the sanctions package targets sectors with high impact: energy, financial services, crypto, and trade. This support for Ukraine remains unwavering, he said.

European Commission President Ursula von der Leyen welcomed the agreement, stating that it continues to weaken Russia's economic foundations. The EU has added 32 more Russian banks to its transaction ban list and is freezing the oil price cap adjustment for a year. It's also targeting vessels assisting Russia's shadow fleet and taking steps towards banning Russian combatants from entering the EU.

A notable change from initial proposals is the dropping of a complete ban on transporting Russian liquefied natural gas to third countries. EU companies can continue transporting Russian LNG under existing contracts, but new contracts will not be allowed.