On 9 June 2026, European Commission President Ursula von der Leyen announced that the European Commission is preparing a 21st sanctions package against Russia, marking a further step in the EU’s ongoing effort to intensify economic pressure following Russia’s continued aggression in Ukraine.
The proposed measures focus on high-impact sectors, including energy, financial services (including crypto-assets) and trade restrictions.
Key Elements of the Proposed 21st Package
Energy and Transport: Expanded Targeting of the Shadow Fleet and Infrastructure
The proposed package introduces further measures aimed at the energy sector.
While the Commission intends to pause the oil price cap adjustment mechanism until January 2027 to ensure market stability in light of geopolitical developments (including in the Strait of Hormuz), it simultaneously proposes expanded enforcement measures. These include:
- The listing of 30 additional vessels, adding to the more than 600 vessels already sanctioned;
- For the first time, targeting vessels supporting the shadow fleet, including those providing services such as bunkering; and
- Measures directed at critical infrastructure, including ports, airports and refineries involved in handling Russian oil.
The package also proposes restrictions on the sale of LNG tankers to Russia, further tightening constraints on Russia’s energy export capabilities.
Financial Sector: Expanded Transaction Bans and Crypto Focus
The Commission proposes to:
- Extend existing transaction bans to 31 additional Russian banks; and
- Target 20 entities in third countries, including banks, crypto platforms and oil traders alleged to have facilitated sanctions circumvention.
The Commission also proposes the introduction of a potential full ban on crypto-asset services from third countries, aimed at jurisdictions hosting platforms used to evade EU sanctions. This reflects an increased regulatory focus on crypto-assets as a vector for circumvention.
Trade Restrictions: New Export Restrictions
On the trade side, the package expands export restrictions targeting Russia’s military-industrial base, including:
- Additional metals and alloys used in aerospace and defence; and
- Drone-related technologies, including ground support equipment, jamming systems and launch systems.
The Commission also proposes new import bans covering goods worth approximately EUR 60 million, including certain metals, metal ores and automotive parts.
The package also introduces sanctions on fisheries for the first time, including substantial restrictions on certain fish products and complete bans on others, including cod. In parallel, the Commission aims to align restrictions applicable to Belarus more closely with those on Russia, in order to address the risk of Belarus being used as a circumvention channel.
Although the package has not yet been formally adopted, the proposal provides a clear indication of the EU’s policy direction, in particular the increased focus on circumvention risks involving third countries, crypto-assets and maritime operations. Companies with exposure to Russia, Belarus or higher-risk jurisdictions should closely monitor the legislative process and assess whether their activities – including in the financial, energy and trade sectors – may be impacted by the proposed measures.
