EU Hits 14 Crypto Firms and 94 Banks in Largest Russia Sanctions Package in Four Years

TLDR

• The EU approved its 21st sanctions package on July 23, targeting 14 crypto platforms and 94 banks over alleged Russian sanctions evasion.
• The package includes 218 individual listings — 48 people and 170 entities — the largest group of new listings in four years.
• The EU now has powers to ban crypto services across entire jurisdictions if they are found to help Russia bypass restrictions.
• 41 ships were added to the shadow-fleet list, and the Russian oil price cap adjustment was frozen until July 15, 2027.
• 56 military-linked individuals and companies were listed, including 37 tied to long-range drone production.

The European Union approved its 21st sanctions package against Russia on July 23, targeting 14 crypto service platforms alongside 94 banks and financial institutions. EU officials described it as the largest group of new listings in four years.

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.

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