EU adopts 21st Russia sanctions package targeting crypto and finance
European Commission President Ursula von der Leyen said the EU's 21st sanctions package would intensify pressure on Russia's economy.
The European Union approved its 21st sanctions package against Russia, imposing new restrictions on banks, crypto platforms and energy-related businesses while softening its planned limits on Russian LNG transfers after objections from Greece, European Commission President Ursula von der Leyen said in a statement.
I welcome the agreement on the 21st sanctions package against Russia.
At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort.
We’re adding 32 more Russian banks to our transaction ban list.
As well…
— Ursula von der Leyen (@vonderleyen) July 23, 2026
The sanctions target 94 Russian financial institutions, Moscow’s stock exchange, additional oil trading companies and vessels associated with Russia’s shadow fleet. The EU also agreed to keep the Russian oil price cap at $44.1 per barrel unchanged for the next year.
To secure unanimous support, the package grants a renewable one-year exemption allowing EU companies to transfer Russian LNG to third countries, although imports of Russian LNG into the European Union will still be prohibited from Jan. 1.