European Commission proposes transaction ban on 31 Russian banks in 21st sanctions package

The European Commission has proposed banning transactions with 31 Russian banks as part of the EU’s 21st sanctions package against Russia. For PSPs, acquirers, and banks touching cross-border flows, the useful detail is not the politics — it is the widening perimeter: banks in Russia, plus third-country financial infrastructure that helps route around existing restrictions.

1. Ursula von der Leyen said at a press conference that the Commission wants to ban operations with 31 Russian banks. She also said the package would include 20 banks, crypto firms, and financial platforms in third countries that help circumvent European sanctions.
2. Von der Leyen added that this would be the first time the EU applies a full ban on crypto-asset-related services for third countries. In practice, that matters for any payment chain using offshore or third-country crypto rails as a bridge into restricted markets.
3. Kaja Kallas wrote on X that the EU plans, in total, to freeze assets of about 90 banks and impose additional transaction bans on more than 30 banks in Russia and third countries. That is a broader net than a simple Russian-bank list, and it explicitly reaches outside Russia.
4. Kallas also said the Commission proposes transaction bans on two Russian ports and four airports. That widens the package beyond financial institutions and into transport nodes that can matter for trade-linked payment flows.
5. Reuters, citing a diplomatic source, reported earlier that the 21st package would add another 170 individuals and entities to the Russia-related blacklists, including 90 banks. The figures do not line up neatly with the Commission’s public summary, which is a good reminder that draft sanctions packages tend to move around before the final text lands.