The European Union on Monday adopted its 21st sanctions package against Russia over the war in Ukraine, targeting a record 170 organizations and 48 individuals — the largest single round in four years, the EU Council said.
The Council froze assets and banned the provision of funds to 94 banks and large financial institutions, including the Moscow Exchange. The restrictions also extend to cryptocurrency transactions, hitting 14 crypto services based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus. Additionally, sanctions were imposed on one bank in Kyrgyzstan and three foreign credit institutions.
The sanctions list includes 18 entities and one individual from the oil sector — three oil refineries in Russia, a major refinery in Belarus, a company selling Belarusian oil products, and five oil traders. Forty-one vessels were added to the so-called shadow fleet.
The EU also suspended for one year the automatic adjustment of the oil price cap, keeping it at $44.1 per barrel until July 2027.
Export restrictions were imposed on 51 entities from third countries that Brussels says help Russia evade sanctions — including companies from China, India, Kazakhstan, Kyrgyzstan, Turkey and the UAE. The ban covers microelectronics, CNC machine tools and semiconductor processing equipment.
The new package also lays the groundwork for a comprehensive visa ban for individuals fighting on Russia's side; the Council will set the entry into force date later.
The sanctions list includes a Russian army major general whom the EU accuses of torture, executions and desecration of the bodies of Ukrainian servicemen, including prisoners of war.
With the new package, the total number of individuals and entities under EU sanctions has reached nearly 3,000.