The Council of the European Union adopted on 23 July 2026 a new package of restrictive measures against Russia, amending Decision 2014/512/CFSP. The package adds 51 entities to the list of Russia's military-industrial complex, expands export and import restrictions, suspends the crude oil price cap adjustment mechanism, and introduces new measures targeting circumvention via third countries and crypto-asset services. The decision impacts EU importers, exporters, financial institutions, and crypto-asset service providers, as well as operators in the LNG and oil sectors.
The package, adopted by the Council, is the latest in a series of sanctions rounds since Russia's full-scale invasion of Ukraine in February 2022. It builds on previous measures, including the 14th sanctions package adopted in June 2024, which introduced restrictions on LNG transshipment and targeted entities facilitating circumvention. The new decision adds 33 credit or financial institutions to the transaction ban list and lists four financial entities and 14 crypto-asset service providers in relevant annexes. It also extends the prohibition for Russian nationals or residents to own or control entities providing crypto-asset services incorporated under EU law, and introduces the possibility to prohibit all transactions with crypto-asset service providers or exchange platforms established in third countries listed in a new annex.
On the trade front, the Council expanded export restrictions on items used by Russia in Ukraine, including nickel powders, beryllium powders, self-adhesive films for aerospace, and UAV-specific items such as ground support equipment, jamming systems, launch systems, servomotors, and flight termination systems. Import restrictions were introduced on copper ores, nickel ores, lead ores, precious-metals ores, unwrought zinc, alkaline-earth metals, zinc oxides, chromium oxides, tall oil, glassware, and car parts. These measures aim to reduce Russia's revenue and industrial capacity.
A notable element of the package is the suspension of the amendment procedure for the crude oil price cap from the date of this decision. An interim review is possible, and from 15 July 2027 the original procedure resumes with the Commission publishing a new price cap. The Council also introduced a temporary exemption for the transfer or purchase of Russian LNG destined for third countries, provided overall capacity does not exceed the 2025 yearly volume. The Commission will periodically assess the situation, and the Council may shorten, extend, or terminate the exemption. The exemption applies only to purchases related to transfers by EU operators under long-term contracts concluded before 24 February 2022, not amended after that date except for limited purposes; all other purchases are prohibited from 1 January 2027.
The package also refines the prohibition on providing LNG terminal services, enlarges vessel designation criteria to include vessels providing bunkering, tug services, and ship-to-ship transfers, and adds additional vessel designations. It prohibits transactions with refineries in Russia and third countries used for processing or refining Russian crude oil or blending petroleum products or mineral products originating in Russia, or refineries used for circumvention; one refinery is listed. The derogation for transactions related to Nord Stream and Nord Stream 2 pipelines is clarified.
On enforcement, the Council introduced a notification obligation for the sale of LNG tankers and the possibility for new restrictions on such sales. It also introduced derogations for competent authorities to authorise nationals of Member States, EEA countries, or Switzerland to withdraw funds from listed credit or financial institutions and crypto-asset or payment service entities to terminate operations, provided funds are transferred to EU-incorporated institutions. Another derogation allows transactions with entity number 4 in Annex XVIII only if necessary for payment of consideration due to an EU credit institution under a put option right contractually agreed and exercised before 28 February 2022; this does not authorise specialised financial messaging services.
The package extends information sharing on breaches of travel measures with third countries that adopted similar restrictions on Russian diplomats, consular officers, and their family members. It introduces a targeted exception to the prohibition on providing services directly related to tourism in Russia, and a targeted derogation for specific research institutions from the prohibition on accepting financing, donations, or economic benefits from Russia, to cover existing obligations.
Stakeholder impacts are significant. EU importers of copper, nickel, lead, zinc, and other ores and metals face new restrictions, potentially increasing costs and supply chain disruptions. EU exporters of UAV components, aerospace materials, and advanced manufacturing equipment must comply with expanded export bans. Financial institutions and crypto-asset service providers face new compliance obligations, including transaction bans and ownership restrictions. LNG operators benefit from a temporary exemption for Russian LNG transfers to third countries, but face volume caps and periodic assessments. The suspension of the oil price cap adjustment mechanism provides stability for market operators but may reduce pressure on Russian revenues.
Institutional follow-up includes the Commission's periodic assessment of the LNG exemption and the interim review of the oil price cap. The Council may adopt further decisions to shorten, extend, or terminate the LNG exemption. From 15 July 2027, the original oil price cap amendment procedure resumes, with the Commission publishing a new price cap. The European Parliament is not directly involved in CFSP sanctions but may debate the package in its committees.