EU Ambassadors to Discuss Revised Russia Sanctions Package

EU ambassadors are scheduled to discuss a revised compromise for the 21st package of sanctions against Russia on Friday. The proposal, unveiled earlier this month, still requires agreement on several points before the automatic revision of the oil price cap takes effect on 15 July.

Ambassadors are considering whether to postpone the price cap review until next year or set a new fixed cap. Russia's Urals crude is currently trading at about $58 per barrel after earlier price increases linked to Middle East developments.

The package includes the first proposed ban on fish imports from Russia. Several member states purchase significant volumes of Russian cod and pollock annually and have raised concerns about supply chain effects. A proposed ban on sales of LNG tankers is also under discussion due to the economic losses it would create for some member states.

Bulgaria has opposed including Patriarch Kirill, head of Russia's Orthodox Church, in the sanctions list. Officials cited religious, historical and cultural reasons for the stance. Bulgaria has also opposed adding Vagit Alekperov, founder of Lukoil, to the sanctions.

A Bulgarian official stated last week that the country would not allow the sanctions package to pass in its current form and would use its vote to block it.

Commissioner for Justice Michael McGrath is visiting Malta on Thursday to meet with government officials and civil society representatives. The annual EU rule of law report rated Malta's progress on justice system improvements and high-level corruption investigations as limited or some progress.

The report found no progress on measures to improve journalist safety. Transparency International data showed nearly 30 percent of respondents believe corruption has increased in the past year.