EU approves 21st Russia sanctions package, targets banks and crypto
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European Commission President Ursula von der Leyen welcomed the approval of the 21st package of anti-Russian sanctions by EU ambassadors. The package adds 32 Russian banks to the transaction ban list, along with cryptocurrency companies and oil trading platforms.
Sanctions Package Details
The 21st EU sanctions package targets 32 Russian banks, cryptocurrency firms, and oil trading platforms. It also freezes the adjustment of the oil price cap for one year to prevent Russia from benefiting from market shocks. For the first time, vessels assisting Russia's shadow fleet are subject to restrictions.
Additional Measures
Von der Leyen stated that the package includes a step toward an official EU entry ban for Russian combatants. She emphasized that the sanctions continue to undermine the economic foundations of Russia's military efforts, especially as Ukraine has increased its military initiative.
What's Next
The sanctions package will be formally adopted by the EU Council in the coming days. It remains unclear how Russia will respond or whether the measures will significantly impact its war financing.
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EU approves 21st Russia sanctions package, targets banks and crypto
