EU Slaps Record Sanctions on Russia Amid Escalating Conflict
The European Union has adopted its 21st sanctions package against Russia and Belarus, adding 48 individuals and 170 entities to asset-freeze regimes. The package also introduces new transaction bans, trade controls, and other restrictions.
Key targets include finance, energy, military-industrial complex, and shadow fleet sectors. The EU has designated 94 banks and financial institutions, including Moscow Exchange and various commercial and regional banks, subjecting them to asset freezes from July 23, 2026.
New transaction bans cover additional banks, payment platforms, crypto platforms, oil traders, refineries, ports, and airports, with application dates beginning in August 2026. The package also creates a framework for transaction bans on refineries that process or blend Russian-origin oil or petroleum products.
Maritime screening must now use IMO numbers and cover owners, operators, managers, and service providers involved in the shadow fleet ecosystem. Eight entities and one individual were designated for spreading Russian state propaganda, while one Russian general was listed for war crimes.