European Union Adopts 21st Sanctions Package Against Russia, Targeting Banks and Vessels

The European Union has implemented its 21st package of restrictive measures against Russia, which entered into force on July 24, 2026. The new sanctions target 41 vessels for irregular shipping practices or supporting Russia's energy sector, add 48 persons and 168 entities to the asset freeze list, and include 33 more banks in the transaction ban list from August 13, 2026. This package aims to further pressure Russia's economy and military industrial complex amid the ongoing conflict in Ukraine.