The EU adopts the 21st round of sanctions against Russia, expanding restrictions on finance, energy, and crypto assets

Deep Tide TechFlow news: On July 24, the Council of the European Union officially adopted on July 23 the 21st round of sanctions against Russia, focusing on strengthening restrictions on Russia’s financial system, energy revenue, the military-industrial sector, and services related to crypto assets. This sanctions round added 218 individuals and entities to the listing, including 48 individuals and 170 entities, marking the largest round of listings in nearly four years.

In the financial sector, the EU froze the assets of 94 banks and major financial institutions, and expanded transaction bans against 33 Russian credit and financial institutions. At the same time, it brought 14 crypto-asset-related service platforms within the scope of restrictions, and for the first time proposed a comprehensive ban on third-country crypto-asset services that assist Russia in evading sanctions.

In the energy sector, the EU continued to crack down on Russia’s “shadow fleet,” adding 41 ships to the sanctions list and imposing transaction restrictions on multiple oil traders, refineries, and related companies. Meanwhile, the EU also strengthened export controls on Russia’s defense-industrial system, adding multiple entities involved in remote drones and the defense supply chain.