Reuters reported that on July 23, the European Union passed its 21st round of sanctions against Russia, adding 218 individuals and entities to the list—one of the largest single additions by the EU in nearly four years. Kaja Kallas, the EU’s high representative for foreign affairs and security policy, said this round of sanctions targets 14 crypto asset service platforms (located in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus) with a trading ban.
Finance is the core: 94 institutions frozen, 33 trading bans, and 4 non-Russian banks restricted
According to the detailed measures of the EU’s 21st round of sanctions, restrictions in the financial sector are as follows:
94 banks and major financial institutions: added to the asset freeze list, prohibiting EU companies and individuals from providing them with funds or economic resources
33 Russian credit and financial institutions: added to the trading ban list, barring dealings with them in the EU market
4 non-Russian banks: of these, 1 Kyrgyz bank is alleged to be related to Russia’s SPFS financial messaging system, while the other 3 foreign banks are alleged to have helped sanctioned entities evade restrictions
14 crypto platforms added to the trading ban list; the EU for the first time activates an all-country crypto service blocking tool
Based on crypto-related information from the EU’s 21st round of sanctions, 14 crypto asset service platforms were added to the trading ban list, with operators located in jurisdictions such as Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus. The EU said these platforms were used by Russia-linked funds to bypass financial restrictions.
This round of sanctions also introduced a new tool for the first time: it allows the EU, in certain circumstances, to prohibit trading with crypto service providers across an entire third-country jurisdiction. If a country is deemed to allow crypto platforms to help Russia evade sanctions, the EU may impose an overall restriction on that country’s related crypto services. In addition, four designated counterparties related to the A7 cross-border payment network (including their African business entities) were also listed.
FAQ
How many new targets were added in the EU’s 21st round of sanctions?
According to a Reuters report, in the EU’s 21st round of sanctions passed on July 23, 2026, 218 targets were added (48 individuals + 170 entities), one of the largest single additions by the EU in nearly four years.
How many crypto platforms does this round of sanctions involve, and where are they located?
According to the EU’s 21st round of sanctions, 14 crypto asset service platforms were added to the trading ban list and are distributed across jurisdictions including Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus.
What is the cumulative size of the EU’s shadow fleet under the 21st round of sanctions?
According to an EU announcement, this round of sanctions added 41 vessels to the Russia shadow fleet list, bringing the total number of vessels covered by the related restrictions to 673.
