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Saying that the goal is to maintain the pressure from the West on Russia, the European Commission outlined its plans for the 21st sanction package since the start of the war in Ukraine. The European Union highlights the impact of its economic sanctions while saying, "Consistency with the sanctions packages is paying off."
President of the European Commission Ursula von der Leyen, however, also highlighted the increased Russian attacks on civilian targets in Ukraine as well as the wayward attacks that have entered European airspace and hit Romania and others, supporting the effort to further deepen the economic sanctions. She asserted that Russia is cut off from the global capital markets, is experiencing high inflation and interest rates, and has lost two-thirds of the liquid assets of its sovereign wealth fund. Energy revenues, the EU reports, fell by around 40 percent in early 2026, while saying actions are needed to address the benefits Russia has gained with the interruption of energy supplies from the Middle East.
"Today, we are putting forward the 21st sanctions package. We focus on the sectors with the highest impact: energy, financial services and crypto, trade – including fisheries, for the first time – and we are banning the entry of former Russian combatants into the European Union," reported von der Leyen.
To maintain the pressure on the shadow fleet and the energy revenues, the EU, for the first time, is targeting vessels that assist the tankers, including those providing bunkering and other services. They are also calling for listing another 30 tankers on top of the 632 that the EU has already sanctioned. They also want to extend the restrictions on the sale of oil tankers to Russia to include LNG tankers. Another element would be a ban on Russian fisheries as well as ports and other infrastructure.
To give the oil markets time to stabilize, the EU is proposing freezing the current built-in adjustment mechanism on the oil price cap. It would maintain the $44 price until January 2027 to continue the pressure on Russia while also taking into consideration the impact of the Middle East on the oil market.
Beyond the energy market, the EU is also calling for new export restrictions on items and technology that can be used by the Russian military. This would include more metals and allows used in aerospace and defense sectors, as well as ground support equipment and jamming and launch systems for drones.
The European Commission is also planning more direct financial sanctions targeting 31 more Russian banks with transaction bans. They also want to add 20 banks and crypto platforms, as well as oil traders in third countries, to the sanctions.
Financial aid to Ukraine also continues with the EU delivering almost €3 billion in a new loan facility to Ukraine yesterday, June 8, and expects to release the first disbursement under the previously announced €90 billion loan. By the end of the month, the EU will have provided Ukraine with €6 billion for drones and more than €3 billion of macro-financial assistance.
Fuente: The Maritime Executive
