The European Union adopted its 21st sanctions package against Russia on Thursday, tightening restrictions on energy, finance, trade and shipping while adding new measures to curb Moscow's war funding.
In a statement, the European Commission said the package targets Russia's key revenue-generating sectors, including energy, financial services, crypto assets, trade and the military-industrial complex.
The European Union suspended planned adjustments to the Russian oil price cap introduced in the 18th sanctions package until July 2027. The measure keeps pressure on Russian crude exports while preserving flexibility for an earlier review if needed.
The sanctions expand transaction bans to additional Russian ports and airports and add the Kulevi refinery to the restrictions. The refinery designation will take effect after six months to allow time to diversify away from Russian crude, the Commission said.
The package also requires notifications for liquefied natural gas tanker sales to third countries. The Council will review the measure within three months before deciding whether to impose a complete ban on tanker sales to Russia.
The European Union introduced a renewable one-year exemption for certain liquefied natural gas transfers and related third-country purchases, subject to strict reporting and volume requirements, the Commission added.
The sanctions also clarified that the liquefied natural gas terminal services ban covers Russian and European Union operators as well as non-Russian third-country operators controlled by Russian companies.
The European Union added 41 vessels to its shadow fleet blacklist, raising the total number of sanctioned ships to 673.
The package also broadened listing criteria to include vessels that support sanctioned ships and designated five bunkering vessels, the Commission said.
The latest measures also expand transaction bans on additional oil traders that authorities identified as intermediaries helping Russia market crude oil outside existing European Union restrictions.
The Commission said the new package aims to increase pressure on Russia's economy, which it said continues to weaken as sanctions restrict access to global financial markets and strain government finances.
The Commission said successive European Union sanctions continue to weaken Russia's economy by cutting energy revenue, restricting financial activity and limiting access to critical technologies. European Union energy payments to Russia in 2025 were 85% below 2021 levels.
The Commission said Russia's economy remains under mounting strain, with gross domestic product contracting 0.2% in the first quarter and growth projected at 1.3% in 2026 and 1.1% in 2027 despite higher oil prices.
The Commission said European Union exports to Russia in 2025 fell 66% from 2021 levels, while imports dropped 83%, as sanctions made Russia's procurement of key technologies and products more difficult, costlier and lower in quality.