Today the European Union announced the contents of its 21st proposed package of sanctions on Russia, including on third-party nations accused of dealings with Russia. The measures now must be approved by all 27 members of the EU.
The actions include proposed bans on transactions with 31 Russian banks, 20 financial institutions in third countries, and sanctions on an additional 30 Russian oil tankers said to be evading Western restrictions on Russian energy exports. There are to be additional restrictions on Russian imports of what the EU designates as dual-use technologies.
Ursula von der Leyen, European Commission President, declared that the existing EU price cap on Russian oil exports is to continue. The current cap is set at 15% below the market price for Urals crude. It is adjusted every six months. Von der Leyen held forth about how successful EU economic action against Russia is. “Our consistency with the sanctions packages is paying off.”
