EU Slaps 21st Round of Sanctions on Russia, Targets Key Sectors
The European Union has reached an agreement on its 21st round of sanctions against Russia, targeting key sectors including energy, financial services, crypto, and trade.
The package includes a 12-month freeze on the Russian oil price cap at $44 per barrel, as well as a one-year exemption allowing the transfer of Russian liquefied natural gas (LNG) to third countries with automatic renewal.
European Commission President Ursula von der Leyen stated that this would ensure 'the Russian war machine does not benefit from market shocks.'
The agreement was delayed due to objections from several member states, including Greece, which had concerns over the impact on its shipping industry.
Greece's exemption allowed one of its shipping firms to continue transporting Russian LNG from the Arctic, and it is expected that other countries will follow suit in supporting Greece.