EU agrees on 21st sanctions package against Russia

The European Union agreed on its 21st sanctions package against Russia on Thursday, aimed at tightening restrictions on its banking sector and increasing pressure on its oil and gas industry.

"I welcome the agreement on the 21st sanctions package against Russia. At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort," the EU Commission president said on US social media company X.

The package adds 32 Russian banks to the EU’s transaction ban list and imposes measures targeting cryptocurrency companies and oil trading platforms, Ursula von der Leyen said.

The bloc will also freeze the adjustment of the Russian oil price cap for one year to prevent Moscow from benefiting from market shocks.

For the first time, the EU will target vessels that assist Russia’s so-called shadow fleet, she added.

Von der Leyen said the bloc had also taken “an important step” toward formally banning Russian combatants from entering the EU.