Crypto▼ Bearish
EU adopts 21st Russia sanctions package, targets crypto ops
EU's 21st sanctions package freezes Russian oil price cap at $44, blacklists over 100 banks and crypto operators, and targets 40+ shadow fleet vessels. Greece secures LNG exemption.
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The European Union approved its 21st sanctions package against Russia on Wednesday, adding more than 100 banks and cryptocurrency operators to its blacklist and freezing the price cap on Russian oil at $44 a barrel for a year.
The package covers 218 individuals and entities in total, the bloc said. Over 40 vessels from Russia's so-called shadow fleet – older, poorly insured tankers that obscure crude destinations – are also sanctioned. It is the largest round of restrictions the EU has imposed since 2022.
European Commission President Ursula von der Leyen said the measures "continue to weaken the economic foundations of Russia's war effort." European Council President António Costa said the package targets "energy, financial services, crypto, and trade." Foreign policy chief Kaja Kallas said the list includes more than 100 banks and crypto operators.
The price cap on Russian oil was set to rise automatically from $44 to $58 a barrel this week after price increases tied to the war in the Middle East. The EU froze it for a year. "The Russian war machine does not benefit from market shocks," von der Leyen said.