The Council of the European Union on 23 July 2026 adopted the 21st package of restrictive measures against Russia, hitting its energy, financial services and crypto sectors hard, and listing 218 individuals and entities — the largest batch of listings in four years. The package aims to further cripple Russia's economy and war machine following recent brutal military strikes on civilian infrastructure in Ukraine.
The package expands action against Russia's financial and banking sector, imposing asset freezes on 94 banks and financial institutions and extending transaction bans to 33 additional Russian credit institutions and a Kyrgyz bank connected to Russia's SPFS system. For the first time, the EU introduces the possibility of a full third-country ban for crypto-asset services, targeting 14 crypto platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus. On energy, the package pauses the automatic adjustment of the oil price cap mechanism until 15 July 2027 to contain Russia's oil profits amid the Strait of Hormuz closure, and lists 41 more shadow fleet vessels, bringing the total to over 670. It also targets oil refineries, including three in Russia and a major Belarusian refinery, and imposes a transaction ban on a Georgian refinery processing Russian oil. The package adds 56 listings related to Russia's military industrial complex, including 37 directly linked to long-range drone production, and extends export restrictions to 51 new entities in third countries such as China, India, Kazakhstan, and Turkey. Trade measures expand export bans on items like nickel powders, beryllium, and drone-specific aviation equipment, and import bans on goods worth over €60 million, including copper and nickel ores. The package also introduces a comprehensive visa ban for Russian combatants and ex-combatants, designates 8 individuals for war propaganda, and strengthens legal protection for EU operators against Russian court rulings. Measures mirroring those on Russia are extended to Belarus. The package follows the European Council's 18 June 2026 call for swift adoption of the 21st sanctions package to increase pressure on Russia.