EU 21st Russian Sanctions Package Expands Restrictions on Crypto, Finance, Trade
Businesses with Russian exposure, crypto operations, or cross-border trade in restricted goods must update compliance programs to meet new EU sanctions that expand restrictions to third-country entities and add 218 new sanctioned parties.
On July 23, 2026, the EU Council adopted its 21st Russian sanctions package, the largest single batch of new designations in four years, adding 218 sanctioned parties (48 individuals, 170 entities) including 94 financial institutions. The package introduces new crypto restrictions banning Russian nationals from owning or controlling EU crypto businesses, extending transaction bans to 14 third-country crypto platforms, and creating a framework to ban transactions with crypto providers in jurisdictions that undermine sanctions. It also adds new export bans on dual-use goods including nickel alloys and UAV components, import bans on base metal ores and car parts, and expands transaction bans to 33 additional Russian banks and non-Russian circumvention entities. Companies with Russian exposure should refresh sanctions screening, counterparty diligence, and contract reviews, noting a transition period through October 25, 2026 for pre-July 24 import contracts.