EU Adopts Weaker Sanctions Package Against Russia Amid Ongoing Negotiations

The European Union adopted its 21st package of sanctions against Russia on July 23, including 48 individuals and 170 entities. The measures target the financial, energy, and military-industrial sectors.

The trading ban has been extended to 33 Russian credit and financial institutions, four banks outside the EU, and 14 crypto service platforms in third countries.

The automatic adjustment of the price cap mechanism for Russian oil has been suspended until July 15, 2027. Experts consulted by Carnegie Europe believe that adopting a compromise-based package is preferable to a lack of agreement.