EU adopts its 21st sanctions package targeting Russian finance, military and propaganda
On July 23 the European Union approved 218 new sanctions against Russia, covering banks, stock exchanges, crypto platforms, shadow-fleet vessels and individuals linked to propaganda and the military-industrial complex.
The European Union approved its 21st sanctions package against Russia on July 23, adding 218 entities to the bloc’s blacklist – the largest single addition since 2022. The measures span financial institutions, manufacturing firms, shipping services, athletes, oil refineries and cryptocurrency platforms.
An EU official said the package also targets “prominent amplifiers of Russian propaganda, including through sports-washing.” Among the individuals sanctioned are sports minister Mikhail Degtyarev, described as “Putin’s soldier,” and former propaganda chief Vladimir Medinsky, noted for promoting Russian sport in occupied Ukrainian territories.
Financial restrictions are extensive: 94 Russian banks, roughly half of the sector, are now fully blocked from European trade, and the Moscow stock exchange has been placed under sanctions for facilitating investments in the Russian military and government bonds. Measures also address gold and diamond exports, and for the first time the EU singled out the A7 cryptocurrency network, which it says helps Russia evade sanctions.
The package introduces a new tool to combat Russia’s “shadow fleet.” Member states may now seize assets on vessels identified as part of the fleet, with proceeds transferred to national coffers. The EU also added 41 shadow-fleet ships to its sanctions list, banned third-country vessels that service the fleet, and sanctioned a crewing agency that supports it.
In the energy sector, the EU kept a temporary exemption for Greek operators to continue transporting LNG to third countries, a compromise that allowed the package to pass after Greece raised concerns. At the same time, the bloc extended the freeze on the Russian oil price cap at $44 per barrel for a full year.
A separate focus of the sanctions is long-range drones. Thirty-seven listings target manufacturers and supply-chain actors involved in drone production, including the Izhevsk Radio Plant, which supplies navigation components for Russian drones and works on the GLONASS satellite system.
The sanctions also apply to Belarusian entities, such as the Mozyr oil refinery, which is said to support the Lukashenko regime. The EU indicated that further measures – for example, restrictions on Russia’s fishing industry or visa bans for former Russian soldiers – remain under consideration for future packages.