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EU Reaches Agreement on 21st Round of Russia Sanctions

On July 23, European Commission President Ursula von der Leyen posted on social media platform 'X' that EU member states had reached a political agreement regarding the 21st round of sanctions against Russia.

We will add 32 Russian banks to the list of entities subject to transaction restrictions, while also including cryptocurrency enterprises and oil trading platforms. She wrote that the EU will suspend a price-cap mechanism for Russian oil for one year, in order to prevent Russia from profiting from international oil price fluctuations.

Földelein said that the EU will for the first time target the ships that provide assistance to Russia's 'shadow fleet', and is also pushing forward with policies to ban Russian personnel who have participated in the war against Ukraine from entering the EU.

According to The Guardian, the High Representative of the EU for Foreign and Security Policy, Catherine Castelnau, further disclosed details of the new sanctions plan, calling it 'the largest round in four years', which will 'target Putin's weaknesses directly'.

She stated that the 21st round of sanctions targeted 218 entities or individuals, involving more than a hundred banks and cryptocurrency operators, over forty stealth fleet vessels, as well as several Russian refineries. The list of sanctioned entities also includes key companies involved in the production of Russian remote-controlled drones.

According to a previous report by Tass, Russian President's press secretary Peskov said that the previous 20 rounds of sanctions have indirectly damaged the European economy, and the 21st round of sanctions will directly affect the interests of member countries, causing even greater harm.

It is reported that the above agreement still requires completion of technical work and formal approval through written procedures.