Further to our Union’ last week’s report on the issue and, following the European Council decision on 18-19 June 2026 to extend the economic sanctions against Russia for twelve months, on the 25th June 2025, the European Council renewed until 31 July 2027 the EU restrictive measures, which cover key sectors, including trade, finance, energy, and dual-use technology.
They also cover a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU, transaction ban on several financial institutions and crypto service providers in Russia and in 3rd states and the suspension of the broadcasting activities and licenses in the European Union of several Kremlin-backed disinformation outlets. Additionally, specific measures enable the EU to counter sanctions circumvention.
According to the Press Release of the Council the EU will keep the current measures in place and stands ready to take additional measures.
However, an agreement on the 21st package of European Union sanctions against Russia remains mired in difficulty, with multiple obstacles and the public threat of a Bulgarian veto standing in the way of unanimity. On the 19th June 2026, EU Ambassadors met to discuss a revised text of the proposal tabled by the European Commission, however, no consensus was found, and talks are set to continue.
Brussels needs to have a deal by 15 July 2026 to avoid an automatic revision of the price cap on Russian seaborne oil, which is meant to be adjusted every six months to stay 15 percent below the average market price.
On Friday 26 June, the Ministerial Committee on European Union Affairs outlined its positions on the new package of sanctions proposed by the Commission. The view of the Ministerial Committee on EU Affairs emphasises the need to continue to support Ukraine and increase pressure on Russia, especially through sanctions and customs duties, which weaken Russia’s economy and military capacity.
However, according to diplomats with knowledge of the process, Ambassadors are considering either delaying the review or imposing a brand-new fixed cap.
A diplomat noted that the Commission's original draft had already been "watered down" by derogations aimed at mitigating objections from different capitals.