The EU has frozen the ceiling on Russian oil prices as part of the 21st package of sanctions.

As part of the 21st package of sanctions, the European Union has frozen the ceiling on Russian oil prices at $44 per barrel until July 15, 2027. The statement was published on July 23 on the website of the Council of the EU.

"This package suspends the renewal of the oil price ceiling until July 15, 2027," the document says.

In addition, the document stated that this would allegedly "help reduce Russia's revenues" from rising fuel prices as a result of the US-Israeli war against Iran.

It is noted that 41 tankers have been added to the blacklist, the owners of which do not intend to comply with price restrictions. The total number of ships from third countries transporting Russian oil at market prices has reached 673.

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Brussels has abandoned some of the restrictive measures due to extensive internal disagreements.

On the same day, the EU Council announced that it had approved the 21st package of sanctions against Russia, including restrictions on 48 individuals, 170 organizations, as well as 94 Russian banks and large financial institutions. The new package provides for the freezing of assets and a ban on the provision of funds to 94 banks and financial institutions in Russia.

The Financial Times (FT) newspaper noted on July 20 that a number of EU countries, including Greece, France, Italy, Germany, Austria and Portugal, demanded exceptions to the new package of anti-Russian sanctions or blocked the proposed measures. The EU diplomat, in a conversation with the media, called the situation a serious crisis for the entire sanctions approach.