The proposed sanctions aim to cripple Moscow’s financial architecture by targeting approximately 90 additional banks. This expansion would bring the total number of sanctioned Russian financial institutions to over 100, effectively covering more than half of the country’s internationally active lenders. While major Russian banks were severed from the SWIFT system in 2022, intelligence reports suggest that the current crackdown on smaller regional lenders and cryptocurrency networks could trigger an "explosive" banking crisis within Russia, a claim the Kremlin continues to dismiss.

Athens argues that the planned ban on transferring Russian LNG will not impact Moscow’s revenues, but will instead shift market share to competitors like the United States, China, and Japan. As the primary operator of Europe's LNG carrier fleet, Greece maintains that the restrictions are economically counterproductive. Meanwhile, the European Commission is pushing to freeze the current oil price cap at $44.10 per barrel for six months. A scheduled review of the cap, which previously sat at $60, was temporarily paused until July 23 to prevent an automatic increase that would have bolstered Russian energy earnings amid volatile global market conditions.