On the 21st, ambassadors from all 27 EU member states engaged in lengthy discussions to prepare a 36-month extension of sanctions targeting over 3,000 Russian individuals and entities, while also removing two Russian entrepreneurs from the sanctions list. According to EU diplomats, the package was submitted to member state governments that evening for written approval.

EU ambassadors are scheduled to continue consultations on related matters in Brussels on the morning of the 22nd. This proposed extension period is notably longer than the usual renewal cycles of six or twelve months, marking a significant shift in the bloc's approach.

The EU aims to use this longer sanction duration to prevent future deadlocks over renewal issues that could arise from divergent positions among member states. On July 23rd, European Commission President Ursula von der Leyen announced on social media that the 21st round of sanctions against Russia would add 32 Russian banks to the transaction ban list, while also targeting crypto-asset companies and oil trading platforms.

The EU will also suspend the dynamic price cap mechanism on Russian oil for one year, in an effort to prevent Russia from benefiting from sharp fluctuations in international oil prices. In response to the EU's 21st round of sanctions adopted on July 23rd, the Russian Foreign Ministry reported on September 18th that it has expanded its list of European individuals barred from entering Russia.