The European Union has adopted a new sanctions package against Russia, expanding pressure on energy, banking, crypto services and industrial networks tied to Moscow's war economy. The measures mark the bloc's 21st package since the full-scale war in Ukraine began and include 218 individual listings, covering 48 people and 170 entities.
The financial section of the package targets 94 banks and major financial institutions with asset freezes and a ban on making funds available. The EU is also extending transaction restrictions to 33 additional Russian credit and financial institutions, while adding measures against non-Russian banks and platforms accused of helping sanctions circumvention.
Crypto services are now a central part of the restrictions. The package extends transaction bans to 14 crypto-related service platforms based in jurisdictions including Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus. It also creates a mechanism that could allow the EU to impose a full third-country ban on crypto-asset services used to support Russian sanctions evasion.
Energy remains one of the main targets. The EU paused the automatic adjustment of the oil price cap mechanism until 15 July 2027, citing the exceptional market situation caused by the closure of the Strait of Hormuz. The bloc also added 41 vessels to its shadow-fleet list, on top of 632 already sanctioned, and extended rules to ships providing bunkering and other support services.
The package also moves against refineries, ports, airports and energy infrastructure linked to Russian revenue generation. It includes designations affecting refineries in Russia and Belarus, a transaction ban due to enter into force in six months on a Georgian refinery trading and processing Russian oil in Kulevi, and new controls linked to LNG tanker sales.
Military supply chains are another focus. The EU listed 56 people and companies connected to Russia's military-industrial complex, including 37 linked to long-range drone production and supply chains. It also added 51 entities to tighter export restrictions on dual-use goods and technologies, including companies in China, Hong Kong, India, Kazakhstan, Kyrgyzstan, Türkiye and the United Arab Emirates.
Trade restrictions were also expanded to cover materials and technologies used in aerospace, defense, drones and missiles, along with import limits on goods that generate revenue for Russia, including ores, metals, glassware, imitation pearls and car parts. Parallel measures on Belarus are intended to mirror parts of the restrictions applied to Russia.
The package also creates the basis for a future visa ban on combatants and former combatants from Russian armed forces and proxy groups involved in the war in Ukraine. The measures reinforce the EU's position that economic and legal pressure will remain a central instrument of its policy toward Russia.
