EU eyes fresh blow to Russia's financial, energy sectors

The European Union is expected to adopt its 21st package of sanctions against Russia on July 13, French Foreign Minister Jean-Noël Barrot said during a visit to Poland, signaling another step in the bloc's efforts to increase economic pressure on Moscow.

"The 21st sanctions package, which is due to be adopted next Monday, will target Russia's financial sector and further reduce its energy revenues," Barrot said.

The proposed measures were unveiled by the European Commission on June 9 and are primarily aimed at tightening restrictions on Russia's energy exports and banking sector.

If approved by EU foreign ministers, the new package would further expand the bloc's sanctions regime introduced in response to Russia's war against Ukraine.

The measures, unveiled by EU foreign policy chief Kaja Kallas, are scheduled to be adopted during a meeting of the EU Foreign Affairs Council. The proposals were submitted following another large-scale Russian strike on Kyiv on the night of July 1–2 and have reportedly secured broad backing among EU member states.

On July 8, the Committee of Permanent Representatives (Coreper) reviewed the package and referred it to the Working Party of Foreign Relations Counsellors (RELEX) for final preparations ahead of its expected adoption.

Speaking last week after Russia's latest large-scale attack on Ukraine, Kallas said she would propose sanctions targeting a wider range of companies supporting Russia's military-industrial complex.

According to media reports, the new measures are expected to target five legal entities and one individual involved in the development and production of components used to enhance the capabilities of Russia's Shahed and Geran drones.

By Vafa Guliyeva