European Union members agreed on Thursday to impose a new round of sanctions against Russia over the war in Ukraine after weeks of negotiations.
In the 21st round of the package, various proposed elements were put on hold due to a number of objections by the member countries.
The agreement came after several weeks of debate, with some members expressing concerns that some sanctions could harm the EU economy more than the Russian economy.
The standoff was resolved after Greece granted an exemption to one of its shipping companies to allow the transport of Russian liquefied natural gas from the Arctic.
What is included in the 21st sanctions package?
“Our 21st sanctions package targets the sectors most impacted: energy, financial services, crypto and trade,” European Council chief Antonio Costa posted online.
Diplomats from the EU’s 27 member states were trying to reach a consensus on a $44 (€39) price limit on Russian crude exports before the deadline.
As per the agreed agreement, the current level will remain in place for the next 12 months.
The deal also grants a one-year grace period for transferring Russian liquefied natural gas (LNG) to third countries with automatic renewal, two EU diplomats said.
The new package also targets Moscow’s financial and crypto sector.
European Commission President Ursula von der Leyen said the package adds 32 Russian banks, crypto firms and oil trading platforms to the EU’s transaction sanctions list.
The new set of EU sanctions also includes entry bans and asset freezes on individuals and companies that could be linked to Russia’s war against Ukraine.
Von der Leyen welcomed the agreement that would not allow automatic adjustment of international price limits on Russian oil.
He said this is to ensure that “the Russian war machine does not benefit from market shocks.”
Edited by: Dmytro Lyubenko
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