EU Member States Agree on 21st Sanctions Package Against Russia, First-Time Inclusion of 14 Chinese Firms Triggers Diplomatic Tensions
On July 24, the EU agreed on its 21st Russia sanctions package, including 218 entities, 100+ banks, crypto firms, 40 shadow vessels, and refineries in Russia and Belarus.
EUROPEAN UNION,POLITICS
Global N Press
7/24/20261 min read
On July 24, 2026, European Union member states reached agreement on the 21st sanctions package against Russia after weeks of difficult negotiations. EU High Representative for Foreign Affairs and Security Policy Kaja Kallas stated that the new package covers 218 entities and individuals, sanctions more than 100 banks and cryptocurrency operators, over 40 "shadow fleet" vessels, and multiple oil refineries in Russia and Belarus. The EU also decided to suspend the dynamic oil price cap mechanism for one year to prevent Russia from benefiting from sharp fluctuations in international oil prices. However, the negotiation process was exceptionally challenging. According to Politico, with Budapest no longer providing cover for opposition, EU governments were forced to defend their objections to tougher action against Russia in the open.
Greece refused to support the package due to a proposed ban on EU companies shipping Russian liquefied natural gas through third countries, while Austria raised concerns on behalf of Raiffeisen Bank, and several countries succeeded in removing a proposed phaseout of Russian fish imports. Of particular international concern was the EU's first-time inclusion of 14 Chinese mainland and Hong Kong companies on the sanctions list, accusing them of supporting Russia's military-industrial complex. The Chinese Mission to the EU responded on July 24 stating that the EU acted despite China's firm opposition and multiple solemn representations, expressing strong dissatisfaction and resolute opposition, and has again lodged solemn representations with the EU side.
