EU Sanctions Package Targets Russian Banking, Crypto, and Oil Sectors

The European Union has imposed its 21st sanctions package against Russia, targeting 218 individuals and entities in total. This is the largest batch of individual listings in four years.

One hundred and ninety-four banks have been frozen out, with an additional thirty-three banks added to the transaction ban starting August 13th, 2026.

The EU has also taken a significant step in regulating cryptocurrencies, allowing it to impose a full country-wide ban on crypto-asset services if a country hosts platforms that help Russia dodge sanctions.