EU 'secure agreement' on 21st sanctions package against Russia, 32 more Russian banks added to ban list
Brussels, July 23
European Union ambassadors on Thursday reached an agreement on the bloc's 21st package of sanctions against Russia, expanding restrictions on Moscow's financial sector, energy revenues, supply chains and so-called "shadow fleet", with 32 additional Russian banks added to the EU's transaction ban list.
Announcing the agreement in a post on X, the Irish Presidency of the Council of the European Union 2026 said, "Agreement secured in Brussels this morning on 21st package of sanctions, targeting Russia's revenue streams, impeding its shadow fleet and disrupting its supply chains. An important step forward in the first weeks of Ireland's Presidency and another strong illustration of how Europe stands with Ukraine against Russia's illegal and brutal war of aggression."
Irish Minister for Foreign Affairs Helen McEntee also welcomed the agreement, saying the package further strengthens pressure on Moscow.
"Pleased we have agreed the 21st package of sanctions in the first weeks of the Ireland Presidency. This package further targets Russia's revenue streams, impedes its shadow fleet and disrupts its supply-chains. Europe stands with Ukraine against Russia's brutal war of aggression," McEntee said in a post on X.
European Commission President Ursula von der Leyen said the latest sanctions would further weaken Russia's ability to sustain its war effort in Ukraine.
"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," von der Leyen said in a post on X.
She said the package adds "32 more Russian banks to our transaction ban list," while also targeting cryptocurrency firms and oil trading platforms.
The measures include freezing the oil price cap adjustment for one year "so that the Russian war machine does not benefit from market shocks."
Von der Leyen added that, for the first time, the EU would target vessels assisting Russia's shadow fleet and had also taken "an important step towards formally banning Russian combatants from entering the EU."
European Council President Antonio Costa described the agreement as "another decisive step to tighten the pressure on Russia."
"Our 21st sanctions package targets the sectors with the highest impact: energy, financial services, crypto, and trade. Our support for Ukraine and for a just and sustainable peace remains unwavering," Costa said in a post on X.
The agreement follows the European Commission's proposal unveiled in June by EU High Representative for Foreign Affairs and Security Policy Kaja Kallas, who described it as the bloc's largest sanctions expansion in more than two years.
Announcing the proposal at the time, Kallas said the measures were aimed at further weakening Russia's ability to finance its military campaign in Ukraine.
"Brick by brick, we are collapsing the foundations of Russia's war economy," Kallas had said, adding that the package targeted financial institutions, energy networks, military supply chains and companies in several countries, including India, China, Turkiye, Kazakhstan, Kyrgyzstan and the United Arab Emirates, which the EU alleges support Russia's military-industrial sector.
The sanctions package is intended to tighten restrictions on Russia's financial system, energy exports, military production and international supply networks as the EU continues to increase economic pressure on Moscow over its ongoing war in Ukraine.
— ANI
Reader Comments
Notice how India is being dragged into this? EU claims Indian companies are supporting Russia's military-industrial sector. We have our own sovereign foreign policy decisions to make. Not every country wants to be a pawn in someone else's game.
21 sanctions packages already and Russia is still standing! These are just feel-good measures for Western leaders. The real solution is diplomacy, not endless sanctions that harm ordinary people everywhere. Europe needs to rethink its strategy.
As someone who follows geopolitics closely, I see India walking a tightrope here. We have strong historical ties with Russia but also growing partnerships with the West. Calling out Indian companies without evidence is not helpful. We need a balanced approach. 🇮🇳
Targeting shadow fleet and crypto firms shows they're at least trying to close loopholes. But 32 more banks? How many Russian banks are even left at this point? Feels like they're running out of meaningful targets and just adding names for the sake of it.
I understand the EU's frustration with Russia's actions in Ukraine, but these sanctions are also hurting innocent civilians in Europe and creating economic instability worldwide. India must continue its independent foreign policy and not be pressured into sanctions that don't serve our national interests. 🙏
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