ON
🔍
← Back to feed
United StatesEconomy11 days ago

EU Plans Massive 21st Sanctions Package to Target Russian Banks and Crypto

The European Union is set to announce its 21st sanctions package targeting Russia's financial infrastructure, including nearly 90 banks, 30 additional banks, and 11 cryptocurrency platforms suspected of aiding Russia in bypassing Western financial restrictions. The measures also aim to disrupt Russian drone production, clamp down on domestic oil traders, and impose trade controls on 50 non-Russian companies across several countries.

The European Union is preparing to launch its 21st sanctions package against Russia, aiming to deliver a sweeping blow to Moscow's financial infrastructure and wartime supply chains.

“We intend to deal a heavy blow to Russia’s financial sector, imposing asset freezes on close to 90 banks and additional transaction bans on over 30 banks in Russia and other third countries,” announced EU Foreign Policy Chief Kaja Kallas on X .

Beyond traditional banking, the upcoming measures will target 11 cryptocurrency platforms accused of helping Moscow circumvent Western financial restrictions. Alongside these targeted measures, the EU plans to tighten its blanket ban on providing crypto-asset services to designated third countries.

The industrial and energy sectors will also face renewed pressure. The new restrictions are designed to directly squeeze Russian drone production while clamping down on domestic oil traders and refiners.

Finally, to combat sanctions evasion, the package imposes trade controls on 50 companies operating outside of Russia. This includes entities based in China, Türkiye, Kyrgyzstan, Kazakhstan, the UAE, and India.

Read the full article at OCCRP →
Source document: Kaja Kallas, EU Foreign Policy Chief

1 reports

OCCRPIndependentCenter11 days ago
EU Plans Massive 21st Sanctions Package to Target Russian Banks and Crypto

The European Union is set to announce its 21st sanctions package targeting Russia's financial infrastructure, including nearly 90 banks, 30 additional banks, and 11 cryptocurrency platforms suspected of aiding Russia in bypassing Western financial restrictions. The measures also aim to disrupt Russian drone production, clamp down on domestic oil traders, and impose trade controls on 50 non-Russian companies across several countries.

Bias read (Center): The article presents factual information about the EU's planned sanctions without overtly favoring any political side. It reports on actions taken by the EU against Russia, which is a highly politicized issue, but does so in a neutral tone with no apparent ideological framing or biased language.

Official sources cited

Go to the primary sources (1)

The official sources this coverage is built on. Read them directly to bypass framing.