TLDR
- The EU approved its 21st sanctions package on July 23, targeting 14 crypto platforms and 94 banks over alleged Russian sanctions evasion.
- The package includes 218 individual listings — 48 people and 170 entities — the largest group of new listings in four years.
- The EU now has powers to ban crypto services across entire jurisdictions if they are found to help Russia bypass restrictions.
- 41 ships were added to the shadow-fleet list, and the Russian oil price cap adjustment was frozen until July 15, 2027.
- 56 military-linked individuals and companies were listed, including 37 tied to long-range drone production.
The European Union approved its 21st sanctions package against Russia on July 23, targeting 14 crypto service platforms alongside 94 banks and financial institutions. EU officials described it as the largest group of new listings in four years.
I welcome the agreement on the 21st sanctions package against Russia.
At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort.
We’re adding 32 more Russian banks to our transaction ban list.
As well…
— Ursula von der Leyen (@vonderleyen) July 23, 2026
The package covers 218 individual listings in total, including 48 people and 170 entities. It spans financial services, energy, military suppliers and organizations accused of helping Russia evade existing restrictions.
Crypto Firms in the Crosshairs
The 14 crypto platforms targeted are based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus. EU authorities said these providers enabled Russian-linked transfers that bypassed financial restrictions.
EU operators are now banned from conducting transactions with the listed crypto platforms. The Council was clear that not all of them are Russian businesses — the focus is on foreign-based providers that allegedly facilitated sanctioned transfers.
The package also introduces a new tool that allows the EU to ban crypto-asset services linked to an entire third country. The Council said it could use this power if a country is found to host providers that help Russia evade EU rules.
Four entities connected to the A7 cross-border payments network were also designated, including firms tied to its activity in Africa. The EU has previously flagged third-country payment channels as part of Russia’s strategy to maintain access to global financial systems.
Banks, Oil and the Shadow Fleet
The 94 listed banks face asset freezes and a ban on receiving funds. The transaction ban was also extended to 33 additional Russian credit and financial organizations, blocking EU companies and individuals from doing business with them.
Four non-Russian banks were also caught in the package. One was identified as a Kyrgyz bank connected to Russia’s financial messaging system, while three others were accused of helping entities avoid EU sanctions.
On energy, 41 vessels were added to the shadow-fleet list, bringing the total to 673. New rules also apply to ships that provide support services to vessels accused of bypassing the Russian oil price cap.
The oil price cap adjustment was frozen until July 15, 2027, with authorities citing disruption from the closure of the Strait of Hormuz. An interim review will determine whether the pause remains necessary.
Three Russian refineries and a major Belarusian refinery were designated. A Georgian refinery in Kulevi faces a transaction ban after a six-month transition period due to its role in processing Russian oil.
Military-linked measures added 56 people and companies, with 37 listings tied to long-range drone production. Export controls were tightened for 51 entities across China, India, Türkiye, Kazakhstan, Kyrgyzstan and the UAE.
European Commission President Ursula von der Leyen welcomed the agreement, stating the sanctions “continue to weaken the economic foundations of Russia’s war effort.”
