EU member states adopted the bloc’s 21st package of sanctions against Russia on July 23, and the European Commission says it carries 218 new listings, 48 individuals and 170 entities. That is the most in a single package since the war began.
All of them face asset freezes. The individuals also get travel bans. The Commission says the listings reach deep into Russia’s banking sector and crypto, and aim to limit Russia’s ability to launch strikes with long-range drones and to keep money from the oil, gold and diamond trades.
Banks, drones and the shadow fleet
Ninety-four banks and major financial institutions are on the list, plus a prominent figure in Russia’s banking establishment. More than 100 Russian banks now fall under transaction bans, which also bar them from financial messaging services. A new ban targets third-country crypto-asset services, and more third-country crypto platforms face transaction bans.
Of 56 listings aimed at the military-industrial complex, 37 are tied to production and supply of long-range drones. Separately, the package adds 51 entities that are part of that complex or help others dodge EU sanctions. Twenty-four are in Russia. The other 27 are in third countries: 14 in China, including four in Hong Kong, four in Turkiye, three in Kyrgyzstan, two each in India, Kazakhstan and the United Arab Emirates.
New export bans cover certain metal powders and alloys used in aerospace and drone production, along with related technology such as jamming equipment.
On oil, 41 more vessels join the 632 already sanctioned shadow fleet ships and face a port access ban. For the first time, the criteria reach ships that service those vessels, and five bunkering vessels that regularly refuelled listed tankers are named. Eighteen entities and one individual in the oil sector are designated, among them three Russian refineries and a major Belarusian one. The EU also froze its oil price cap adjustment until July 2027, saying it wants to keep pressure on Russian crude exports given the closure of the Strait of Hormuz.
Combatants and lawsuits
The package lays the legal basis for a visa ban on Russian combatants and ex-combatants. The Council will set the start date once implementing measures are ready, and the Commission is due to report back on preparations in three months. It also lets EU firms sue non-Russian contract partners in the EU to recover damages, and tells member states not to recognise or enforce Russian court decisions tied to sanctions.
“The European Union remains united in increasing the pressure on Russia,” said Maria Luis Albuquerque, the Commissioner for Financial Services. “With this 21st sanctions package, we are further constraining Russia’s ability to finance its illegal war, closing loopholes and strengthening enforcement.”
The Commission puts Russia’s first-quarter real GDP at a 0.2% contraction. It lists forecast growth of 1.3% for 2026 and 1.1% for 2027, and says EU energy payments to Russia in 2025 were 85% below 2021 levels.
