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Technical procedures are currently being completed, which will clear the way for the written procedure needed to finalize the package, the diplomat noted.
EU member states also agreed to extend the current price cap on Russian oil for an additional 12 months.
The new sanctions package expands restrictions on the Russian financial sector, bans specific transactions, and introduces new regulations regarding cryptocurrency use, while also adding more Russian shadow fleet vessels and their facilitators to the sanctions list.
Read also: U.S. oil sanctions against Russia back in place, Kyiv says
The new package will also restrict visas for former Russian military personnel, impose additional trade bans, and place approximately 250 new entities under sanctions.
“At the same time, because of the positions of several member states, restrictions on the fish trade were lifted, measures against Russian military personnel were relaxed, and Patriarch Kirill [of the Russian Orthodox Church] was removed from the list,” the diplomat stated. “A compromise was also reached regarding Russian LNG supplies to third countries.”
Greece successfully pushed for the EU to authorize deliveries and related purchases under contracts signed before February 24, 2022, although any volume increases by EU operators will be capped and the EU Council will review the exemption annually, the source added.
Read also: EU intercepts Russian shadow fleet tanker in Mediterranean
The Financial Times reported on July 19 that several EU countries have demanded that restrictions against Russia be eased in the new sanctions package due to the resulting damage to their businesses. Beyond Greece, this coalition includes France, Italy, Germany, Austria, and Portugal.
Politico reported on July 3 that Italy expressed concern over EU plans to sanction Russian Orthodox Church Patriarch Kirill, with those objections originating from the Vatican.
Bulgarian Prime Minister Rumen Radev announced that same day that his country would block the 21st package of European sanctions against Russia unless Russian Orthodox Church Patriarch Kirill and former Lukoil President Vagit Alekperov were removed from the list.
Bulgaria subsequently agreed to support the 21st package of EU sanctions against Russia after Alekperov and Kirill (Vladimir Gundyaev) were removed from the blacklist.
Read also: Lindsey Graham's Russia sanctions bill secures Senate majority — Axios
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Read the original article on The New Voice of Ukraine
Section: Nation
Author: Midian Al-Rifai
