The European Union on 24 July 2026 adopted its 21st package of restrictive measures against Russia, imposing asset freezes on 94 banks and financial institutions, extending transaction bans to 33 additional credit institutions and 14 crypto platforms, and listing 218 individuals and entities — the largest batch of listings in four years. The package also pauses the automatic adjustment of the oil price cap mechanism until 15 July 2027, extends sanctions on Russia's shadow fleet by listing 41 additional vessels, and targets oil refineries in Russia and Belarus, including a Georgian refinery processing Russian crude. For the first time, the EU introduced the possibility of a full third-country ban on crypto-asset services to deter circumvention.
The package follows the European Council conclusions of 18 June 2026, which called for swift adoption of the 21st sanctions package and reaffirmed the EU's determination to increase pressure on Russia's war economy. It also builds on a separate set of restrictive measures adopted on 13 July 2026 addressing human rights violations in Russia, mistreatment of Ukrainian prisoners of war, and cyberattacks linked to Russia. The new measures aim to further cripple Russia's ability to finance its war, particularly after recent strikes on civilian infrastructure in Ukraine.
High Representative Kaja Kallas said the package includes over 100 banks and crypto operators, more than 40 shadow fleet vessels, several oil refineries, and over 50 military-industrial entities involved in long-range drone production. "Russia will only negotiate to end its illegal war and stop killing civilians if it is pressured to do so. Sanctions add to this pressure," she stated.
The package expands export bans to include nickel powders, beryllium powders, self-adhesive films for aerospace, and UAV-specific items such as ground support equipment and flight termination systems. Import restrictions were extended to copper ores, nickel ores, lead ores, precious-metal ores, unwrought zinc, and other goods worth over €60 million annually. The EU also added 51 new entities to the dual-use export restriction list, including entities in China, India, Kazakhstan, Kyrgyzstan, Türkiye, and the UAE, for supporting Russia's military-industrial complex or circumventing export controls.
On energy, the package targets the shadow fleet by extending rules to cover vessels providing bunkering and other support services, and lists 41 vessels on top of the 632 already sanctioned. It designates 18 entities and 1 individual in the oil sector, including three Russian refineries and a major Belarusian refinery. A transaction ban on a Georgian refinery in Kulevi will enter into force in six months. The package also introduces a notification obligation for LNG tanker sales and a possibility to restrict such sales to Russian entities.
In the financial sector, the EU extended its transaction ban to 14 crypto-related service platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus. The new third-country ban on crypto-asset services allows the EU to prohibit any transaction between EU operators and crypto providers used by Russia. Additionally, the EU designated four entities linked to the cross-border A7 network, including its new African links.
The package includes 56 listings of persons and companies in Russia's military-industrial complex, with 37 directly linked to long-range drone production and supply chains. It also introduces a legal basis for a comprehensive visa ban on combatants and ex-combatants of the Russian armed forces and proxy groups, with the Council to decide on its entry into force.
Other measures include designations of eight individuals for spreading war propaganda, a Major General for war crimes involving torture and executions of Ukrainian prisoners, and strengthened legal protection for EU operators against Russian court rulings. The package also mirrors several measures for Belarus, including trade restrictions and legal protections.
The relevant legal acts are to be published shortly in the Official Journal of the EU.