EU holds freeze on Russian oil price cap as 21st sanctions package agreed (updates*)
By Louis de Briant ( July 23, 2026, 09:24 GMT | Insight) -- EU countries agreed on the EU's 21st sanctions package against Russia, the European Commission President said on Thursday. This extends the current $44.10 cap on the price per barrel of Russian oil for another year. The agreement also includes a limited exemption for Russian LNG transshipments to non-EU countries. The package also expands financial sanctions, targets additional shadow fleet vessels and imposes new trade restrictions on Russia's military industry.The EU's 21st sanctions package against Russia was adopted by member states on Thursday, extending the current $44.10 price cap on Russian crude oil for another 12 months and expanding restrictions on Moscow's energy, financial and military sectors.*...
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