What is included in the EU's 21st sanctions package?

The package introduces new restrictions targeting Russian banks, cryptocurrency networks and other entities the EU believes could help evade sanctions.

Why did the EU target cryptocurrency networks?

The EU said the measures are designed to reduce the risk of digital assets being used to bypass existing sanctions.

Who is affected by the new sanctions?

The sanctions target selected Russian financial institutions, cryptocurrency-related networks and other entities identified by the European Union.

Why is the EU introducing more sanctions?

The EU said the measures are intended to increase economic pressure on Russia following its invasion of Ukraine.

Have the sanctions taken effect?

The European Union has approved the 21st sanctions package, bringing the new measures into force under its sanctions framework.

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EU targets Russian banks and crypto networks

Written by Isaac FrancisPublished Jul 24, 2026, 7:29 AM

The European Union has approved its 21st sanctions package against Russia, targeting banks and cryptocurrency networks.
The new measures aim to restrict financial channels that could help Russia bypass existing sanctions.
The package expands the EU's efforts to tighten economic pressure following Russia's invasion of Ukraine.

The European Union has adopted its 21st package of sanctions against Russia, adding new restrictions on Russian banks and cryptocurrency networks.

The EU said the measures are intended to limit financial channels that could be used to evade existing sanctions.

The latest package expands restrictions on entities that the EU believes support Russia's economy or facilitate sanctions evasion.

EU officials said cryptocurrencies have become one of several areas requiring closer oversight as digital assets are increasingly used in cross-border transactions.

The sanctions also include additional measures affecting Russia's financial sector and organisations linked to the country's war effort.

The latest package forms part of the EU's ongoing strategy to increase economic pressure on Russia while strengthening enforcement against sanctions avoidance.