EU Slams 21st Round of Sanctions Against Russia Amid Ongoing Ukraine Conflict

The European Union has imposed its 21st round of sanctions against Russia over its ongoing war in Ukraine. The agreement, reached after weeks of negotiations and debates among member states, targets sectors with high impact: energy, financial services, crypto, and trade.

The deal includes a price cap on Russian crude oil exports, which will remain at $44 (€39) for the next 12 months. Additionally, two EU diplomats confirmed that one-year exemptions have been granted for the transfer of Russian liquefied natural gas (LNG) to third countries, with automatic renewal.

The new sanctions package also targets Moscow's financial and crypto sector by adding 32 Russian banks, crypto firms, and oil trading platforms to the EU's transaction ban list. European Commission President Ursula von der Leyen welcomed the agreement, stating that it will prevent the 'Russian war machine from benefiting from market shocks.'

One of the key concessions made in the negotiations was an exemption for a Greek shipping firm to transport Russian liquefied natural gas from the Arctic.