EU Allows Member States to Sell Confiscated Russian Oil in 21st Sanctions Package

The EU adopted its 21st sanctions package against Russia on July 23, introducing measures targeting the country’s energy revenues, financial infrastructure, and sanctions evasion tactics. A key provision allows EU member states to legally confiscate and sell crude oil and other commodities seized from Russia’s “shadow fleet” vessels intercepted during naval operations. The package also freezes the Russian oil price cap at $44 per barrel for 12 months, preventing an automatic increase to $58.…