EU Agrees New Russia Sanctions as Greece Secures LNG Exemption

The European Union agreed on a new round of sanctions against Russia in its 21st package, ending chaotic negotiations that nearly derailed the deal. Greece, which previously blocked progress, secured an exemption to continue shipping Russian LNG to countries outside the EU under contracts signed before Feb. 24, 2022. The derogation applies for a defined period and will be reviewed annually. Alongside the LNG carve-out, the package includes additional shipping restrictions, financial and trading measures, and new designations aimed at limiting Russia’s ability to fund the war.