EU's 21st Russia sanctions package targets banks, oil, and military industries
The European Union is finalising its 21st package of sanctions against Russia. The measures, set to be unveiled in late June or early July, will target key sectors of the Russian economy and influential figures. Among the proposed restrictions are penalties on banks, military industries, and oil transport networks.
The new sanctions are expected to focus on Russian banks and financial institutions. They will also hit enterprises linked to the military-industrial complex and companies involved in selling stolen Ukrainian grain. A major target is the so-called 'shadow fleet'—tankers transporting Russian oil—which Brussels believes is a critical source of revenue for Moscow’s budget.
Earlier attempts to impose similar measures failed due to Hungary’s opposition. This time, however, the EU aims to revive those initiatives. The latest package may also include sanctions against high-ranking members of the Russian Orthodox Church, such as Patriarch Kirill. Hungary had previously blocked such moves, but the bloc now appears determined to push forward.
If approved, the sanctions would tighten financial and logistical pressure on Russia. The measures against the 'shadow fleet' could disrupt a vital income stream for the Russian state. The EU’s decision will be formally announced in the coming weeks.
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