EU Imposes Sweeping Sanctions Package Targeting Russian Banks, Crypto
The European Union has adopted its 21st package of sanctions against Russia, targeting Russian banks, cryptocurrency networks, oil traders, and energy revenues.
The new measures include asset freezes and transaction bans on nearly all Russian financial institutions, with 94 entities hit by full asset-freeze sanctions and 33 Russian banks subject to a transaction ban that includes disconnection from the SWIFT international payments system.
The EU has also frozen the Russian oil price cap at $44.10 per barrel for 12 months, preventing an automatic increase that would have raised it to around $58.50.
Additionally, the package expands sanctions across 218 new designations, including banks (SWIFT disconnections), crypto networks, shadow-fleet vessels, oil traders, and military-industrial firms.