The EU has adopted a 21st package of sanctions against Russia over its war in Ukraine, including new restrictions targeting banks, crypto services and parts of the energy sector.
The measures include 218 new listings — 48 individuals and 170 entities — described by the largest batch of individual listings in the past four years, the Council of the EU announced Thursday night.
Asset freezes and a ban on making funds available will apply to 94 banks and major financial institutions, alongside one individual linked to Russia’s banking establishment.
The EU also extended its transaction ban to 33 additional Russian credit and financial institutions.
The EU introduced a transaction ban against a Kyrgyz bank linked to SPFS — Russia’s System for Transfer of Financial Messages, a domestic alternative to international payments systems — and three other non-Russian banks it said were involved in circumventing sanctions.
Restrictions were extended to 14 crypto-related service platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan and Belarus, the Council said.
It also set out a mechanism for potentially imposing a full third-country ban on crypto-asset services, enabling the EU to prohibit transactions between EU operators and crypto providers used by Russia.
Energy, shipping and refineries
In the energy sector, the EU paused the automatic adjustment of its oil price cap mechanism until 15 July 2027, citing market disruption linked to the closure of the Strait of Hormuz, according to the Council.
It said there will be an interim review of the suspension.
The EU added 41 vessels to its sanctions list targeting Russia’s so-called shadow fleet — a term used for tankers and other ships involved in moving oil and other goods outside restrictions — bringing the total number of sanctioned vessels to 673.
Eight entities and one individual linked to the shadow fleet ecosystem were also designated, including companies operating on behalf of Russia’s oil majors and, for the first time, a crewing agency supporting the fleet.
Sanctions also targeted oil refineries, with 18 entities and one individual designated in the oil sector, including three refineries in Russia and a major Belarusian refinery.
The EU also created the possibility to prohibit transactions with listed refineries in Russia and in third countries that process or refine Russian crude oil and petroleum products.
A transaction ban is due to enter into force in six months on a Georgian refinery in Kulevi involved in trading and processing Russian oil.
Five oil traders were added to the list of entities subject to a transaction ban for frustrating the ban on purchasing Russian crude oil and petroleum products.
Further measures included a transaction ban covering two Russian ports and four Russian airports, and new requirements related to LNG tankers — liquefied natural gas vessels used to transport super-cooled gas — including a notification obligation for sales and the possibility of additional restrictions on sales to Russian citizens and companies.
Kaja Kallas, the EU’s High Representative for Foreign Affairs and Security Policy, said the package included actions against “over a hundred banks and crypto operators”, “40+ vessels” in the shadow fleet, and several oil refineries in Russia and Belarus.
The legal acts for the sanctions package have been published in the Official Journal of the EU.
