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EU Proposes Sweeping 21st Sanctions Package Targeting Russia’s Banks, Energy and Trade

Brussels says the measures will cut Russian revenues by targeting energy, banking, third‑country networks that enable sanctions evasion.

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Overview

  • The European Commission presented the proposal on Tuesday and put forward more than 170 listings that would include close to 90 bank asset freezes, about 30 additional shadow‑fleet vessels and new export controls.
  • The plan would freeze the EU oil price cap at roughly $44 per barrel until January to stop higher market prices from boosting Russia’s oil revenues.
  • The Commission proposes a visa ban that would bar anyone who has served in the Russian armed forces since the 2022 invasion from entering the EU, a move that directly affects current and former service members.
  • Brussels would extend sanctions to roughly 50 third‑country firms and dozens of crypto platforms and banks in countries such as India, China and the UAE to close supply chains and payment routes that help Moscow evade restrictions.
  • The package now moves to member‑state negotiations and requires unanimous approval, with some measures possible for a foreign‑ministers vote on June 15 and full adoption expected in stages subject to political compromise.