EU Imposes 21st Sanctions Package Against Russia with Wider Restrictions
The European Union has adopted its 21st sanctions package against Russia and Belarus, adding 218 individuals and entities to asset freezes. This move is aimed at targeting finance, energy, military-industrial complex, and shadow-fleet sectors.
Among the key measures are new transaction bans on banks, payment platforms, crypto assets, oil traders, refineries, ports, and airports. These restrictions will apply from August 13, 2026, with some measures taking effect as early as July 23, 2026.
The package also includes trade controls, expanding export and import restrictions on dual-use and advanced-technology goods. Energy measures are aimed at affecting the oil-price-cap mechanism, Russian LNG transfers, purchases, terminal services, and tankers' transfers.
Businesses must review their counterparties, assets, payment chains, and contracts to ensure compliance with these new regulations.