EU’s 21st Russia sanctions package targets 100+ banks and crypto operators, refiners, and 40+ shadow fleet ships

The EU has agreed its 21st sanctions package against Russia, and the parts that matter for payment people are pretty direct: more than 100 banks and crypto operators are in scope, along with additional restrictions on Russian financial infrastructure, energy, and trade flows. For PSPs, this is another reminder that the sanctions perimeter is no longer just about named banks; crypto, oil-related counterparties, and settlement routes are increasingly part of the same control set.

1. Kaja Kallas said the package, agreed today by EU ambassadors, includes more than 100 banks and crypto operators, more than 40 ships from the so-called “shadow fleet,” and several refineries in Russia and Belarus. She said the measures are aimed at Russia’s financial system, the military-industrial complex, and the energy sector.
2. The package also covers more than 50 military-industrial organizations, including key enterprises involved in producing Russian drones. Kallas said the overall package is the largest in four years and contains 218 listings in total.
3. Reuters previously reported, citing diplomats, that the new EU package would include restrictions on Moscow Exchange. Moscow Exchange is already under U.S. sanctions since June 2024, along with the National Settlement Depository (NSD) and the National Clearing Centre (NCC), which led NCC to lose the ability to use correspondent accounts for settlement in some currencies and forced Moscow Exchange to stop trading those currencies.
4. European Commission President Ursula von der Leyen said the new package includes a ban on transactions with another 32 Russian banks, as well as crypto companies and oil trading platforms. She also said the oil price cap on Russian crude will be frozen for one year at the current level of $44 per barrel.
5. Euractiv, citing diplomats, reported that the package was approved in a weakened form. It keeps a one-year authorization for companies to transport Russian LNG to third countries and does not include a full entry ban on Russian military personnel in the EU.