The European Union's 21st package of sanctions against Russia is set to be approved by July 15, 2026. One of the main reasons for this rush is the deadline for updating the price ceiling for Russian oil.
Points of attention
- Currently, discussions are still ongoing about at what level to freeze the price ceiling.
- It will definitely not remain at $44.1 per barrel.
What is known about the 21st package of EU sanctions against Russia?
According to anonymous sources, official Brussels is determined to do everything possible to prevent a sharp increase in the price ceiling for Russian oil.
That is why the key element of the 21st sanctions package will be the freezing of the price ceiling.
The European authorities do not want the aggressor country Russia to once again start receiving additional funds from the sale of "black gold" amid a sharp increase in world prices due to the war in the Middle East and the blockade of the Strait of Hormuz.
What is important to understand is that as of today, the EU has a price ceiling on Russian oil, established in previous sanctions packages against Russia.
It is calculated using the formula: the average oil price over the past six months minus 15%, and is updated every six months. The current price ceiling for Russian oil is $44.1 per barrel, set on January 15, 2026.
It is planned to be officially changed on July 15, 2026.
