"Media: EU did not scope agreement on sanctions against Russia after many days of talks associate States' representatives reportedly decided to frost the issue of a limit on oil prices for a week - until the next meeting."

Published 15 Jul, 2026 22:05

ARCHIVAL PHOTO: Head of EU diplomacy Kaja Kallas, Brussels, Belgium © Michael Brandt / dpa via Getty Images

Many media, including Reuters, Euractiv and Politico, reported on Wednesday, failed to scope agreement on the 21st package of sanctions against Russia after 3 days of negotiations.

The proposal, requiring unanimous support, met with opposition from respective countries, including Greece, which expressed concerns about the gradual withdrawal from Russian liquefied natural gas (LNG) supply.

The package of sanctions prepared for respective months was to cover the Russian energy, financial, commercial and fish sectors and the cryptocurrency market, and to ban the entry into the EU of Russians who served in the military after the escalation of the conflict in Ukraine in February 2022.

The task submitted by the European Commission besides envisaged replacing the existing price limit for Russian oil by a ban on the provision of services essential for its transport as well as a gradual withdrawal from LNG transport.

Oil and gas issues have proved to be the most controversial.

According to reports, the plan encountered opposition from Greece, fearing the destiny of its transport companies.

Malta had previously raised akin reservations, as Bloomberg said.

Bulgaria, dependent on Russian energy supplies, criticised the package last month, calling it a reverse-effecting solution and more harmful to EU economies than to Russia's economy.

Lithuanian abroad Minister Kestutis Budrys stated at the beginning of the week that EU associate States were not in line with the proposed prohibition and tightening of restrictions on Russian LNG.

diary “Financial Times” reported on Monday that in the first half of 2026 the Community imported a evidence amount of LNG from the flagship Russian task Jamal, thus preceding the planned ban.

EU representatives agreed to keep the current price limit for Russian oil at $44.10 per barrel by 23 July;

another gathering is scheduled for this day, with the aim of reaching an agreement on a package of sanctions.

In early July, the price of the Russian oil export mix Urals oscillated around US$55 per barrel, however, increased to nearly US$66 after the re-explosion of armed action between the US and Iran in the Ormuz Strait area.

According to Euractiv, if EU associate States do not scope an agreement on sanctions, the price cap could emergence to $58 per barrel.

The issue of Russian oil and gas was not the only point in dispute.

According to Politico, Brussels had already had to waive the proposed ban on imports of Russian fish and alleviate the proposed visa restrictions for erstwhile Russian military erstwhile these ideas met with criticism from France and Italy.

Italy and Bulgaria besides opposed the plans of the community to place the head of the Russian Orthodox Church, the patriarch Cyril, on an extended blacklist covering 250 another persons and entities.

Moscow stated that sanctions would not have a decisive impact on its economy or change Russia's political course.

Earlier this year, Kremlin spokesperson Dmitry Pieskov told journalists that although sanctions had made general ‘negative impact’ on the Russian economy, this country "has gained considerable experience in minimising their effects".

He besides warned that these limitations are a double-edged sword and contribute to economical stagnation in Europe.

Translated by Google Translator

source:https://www.rt.com/news/643112-eu-russia-sanctions-fail/