The European Union on 24 July 2026 adopted its 21st package of restrictive measures against Russia, imposing new sanctions on the energy, financial services, and cryptocurrency sectors, as well as listing 218 individuals and entities — the largest batch of listings in four years. The package aims to further cripple Russia's economy and its ability to wage war against Ukraine, following recent Russian strikes on civilian infrastructure.
The package includes asset freezes and transaction bans on 94 banks and major financial institutions, and extends transaction bans to 33 additional Russian credit institutions and a Kyrgyz bank connected to the SPFS system. For the first time, the EU introduces the possibility of a full third-country ban on crypto-asset services, targeting 14 crypto platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus. In the energy sector, the EU pauses the automatic adjustment of the oil price cap mechanism until 15 July 2027, and adds 41 vessels to the shadow fleet list, bringing the total to over 670. The package also targets oil refineries, including three in Russia and one in Belarus, and imposes a transaction ban on a Georgian refinery processing Russian oil, effective in six months. Additionally, the EU introduces a notification obligation for LNG tanker sales and the possibility of further restrictions on such sales to Russian entities.
On the military-industrial complex, the EU lists 56 entities and individuals involved in Russia's long-range drone production and supply chain, and adds 51 entities to the dual-use export restrictions list, including entities in China, India, Kazakhstan, Kyrgyzstan, Türkiye, and the UAE. The package also bans the import of goods worth over €60 million, such as copper ores, nickel ores, and car parts, and expands export bans on items used in Russia's military industry, including nickel powders, beryllium powders, and UAV-specific aviation items. Measures against Belarus mirror those on Russia, including trade restrictions and legal protection. The EU also designates eight individuals for spreading war propaganda and a Major General for war crimes, and strengthens legal protection for EU operators against Russian court rulings.
The package follows the European Council's conclusions of 18 June 2026, which reaffirmed the EU's determination to increase pressure on Russia and called for swift adoption of the 21st sanctions package. The relevant legal acts will be published shortly in the Official Journal of the EU.