EU Adopts 21st Russia Sanctions Package with Member State Exemptions

The Council of the European Union adopted its 21st sanctions package against Russia on July 23, 2026. The measures target Russian banks, cryptocurrency networks, oil traders, and the shadow fleet to limit funding for military operations in Ukraine. The package includes a transaction ban on 32 additional Russian banks and the designation of 250 individuals and entities.

Internal divisions among member states led to a watered-down final agreement. Ursula von der Leyen, President of the European Commission, welcomed the package, but negotiations revealed clashes over economic interests. Greece secured an exemption for liquefied natural gas transshipment, while Italy and Greece successfully pressured the European Commission to roll back sanctions on raw Russian sable pelts due to a lack of alternative suppliers. The EU continues to prohibit finished Russian fur garments and exports of diamonds and caviar to Russia.

Following these fraught negotiations, EU officials indicated a strategic shift away from large omnibus rounds toward smaller, thematic bundles. This change aims to prevent individual member states from using the unanimity requirement to block broad packages and to close loopholes more rapidly. Russian President Vladimir Putin dismissed the sanctions campaign as a failure and a Russophobic machine.