The European Union has reached a political agreement on the 21st sanction package against Russia. The new measures target the banking sector, ships from the “phantom fleet”, companies in the cryptocurrency field, and the Russian oil export sector.
At the same time, Greece has obtained a derogation for the transport of liquefied natural gas (LNG) to non-EU countries, according to jurnal.md. The ambassadors of the member states to the European Union have reached a common decision, after weeks of negotiations.
The price ceiling for oil exported from Russia will be maintained at 44 dollars per barrel for 12 months. Also, a one-year exemption was approved, which will be reviewed annually and allows the transfer of Russian liquefied natural gas (LNG) to third countries.
The technical work on the sanctions package is expected to be completed, and the written adoption procedure will be launched during the day on Thursday.
“We are adding another 32 Russian banks to our transaction ban list. Also, cryptocurrency firms and oil trading platforms“, announced Ursula von der Leyen.
The head of the European Commission also announced that the cap on the price of Russian oil will remain unchanged for a year, in order to limit Moscow’s revenues. “We are freezing the adjustment of the oil price cap for one year, so that the Russian war machine does not benefit from market shocks,” she conveyed.
In the final form of the package, the European Commission has amended the initial proposal to respond to Greece’s requests regarding LNG transport. Thus, Greek companies will be able to continue the transport of Russian liquefied natural gas to countries outside the EU, based on contracts concluded before February 24, 2022. This exemption will be reviewed annually.