EU approves 21st sanctions package against Russia targeting banks, crypto platforms, and shadow fleet

24.07.2026, 14:46 rubryka.com

The European Union froze assets and banned transactions for 94 banks and financial institutions, as well as another 33 Russian credit institutions. The sanctions also targeted one bank in Kyrgyzstan over its links to Russia's SPFS system, as well as three other foreign banks.

In addition, the EU introduced a ban on transactions with 14 crypto platforms based in Georgia, Panama, the United Arab Emirates, Kyrgyzstan, Belarus, and the Marshall Islands.

At the same time, the European Union activated, for the first time, a mechanism to impose a full ban on cryptocurrency services from third countries. Brussels can now block any transactions between European operators and any crypto provider worldwide if that provider helps Russia circumvent sanctions.

The European Union suspended the automatic adjustment of the price cap mechanism for Russian oil until July 15, 2027. The Council of the EU said the decision should limit Russia's excess oil revenues amid instability in global markets caused by the closure of the Strait of Hormuz.

The sanctions list also added another 41 vessels from the "shadow fleet." In total, more than 670 such vessels are now under sanctions. In addition, the restrictions were extended to companies involved in recruiting crews for these tankers.

The sanctions also targeted 18 oil refining companies and one individual. They include three oil refineries in Russia, a major Belarusian refinery, and an oil refinery in Kulevi, Georgia.

Separately, the EU introduced rules requiring notification of the sale of tankers used to transport liquefied gas, as well as contractual obligations preventing their subsequent resale to Russia.

The Council of the EU imposed 56 individual sanctions against weapons manufacturers. Of these, 37 concern companies linked to the production and supply of long-range drones.

Export restrictions on dual-use goods also targeted 51 new companies. These include enterprises from China, including Hong Kong, as well as India, Kazakhstan, Kyrgyzstan, Türkiye, and the United Arab Emirates, which supplied Russia with microelectronics and equipment for semiconductor production.

The European Union expanded its ban on exports to Russia of components for the aviation industry, drones, and metals used in jet engine production.

At the same time, the EU banned imports from Russia of copper, lead, and zinc ores, glass, and auto parts, totaling more than 60 million euros.

The European Union also created a legal basis for a full ban on issuing visas to Russian combatants and mercenaries fighting against Ukraine. The Council of the EU will determine the date when this decision enters into force later.

In addition, companies from EU countries received the right not to recognize or enforce Russian court rulings issued in response to compliance with European sanctions.

Separately, sanctions were imposed on eight Russian propagandists and a Russian major general believed to be involved in torture, executions, and the desecration of the bodies of Ukrainian prisoners of war.

Background

As reported, the permanent representatives of European Union countries reached a political agreement on the content of the EU's new 21st sanctions package against Russia on the morning of Thursday, July 23.