EU Hits Russia with Largest Sanctions Package Since 2018 Invasion

The European Union has implemented its largest sanctions package against Russia in four years. The Council of the EU approved the measures on July 23, targeting banks, oil refineries, and drone-manufacturing networks that fund Moscow's war in Ukraine.

The package includes 218 new designations, with 48 individuals and 170 entities added to the list. This is the largest batch of listings since 2018. The EU aims to weaken Russia's economy and war machine in response to recent strikes on civilian energy, water, and health infrastructure.

Kaja Kallas, the EU foreign policy chief, said the package targets over a hundred banks and crypto operators, more than 40 shadow fleet vessels, and several oil refineries in Russia and Belarus. It also includes military-industrial entities tied to Russia's long-range drones.