EU unveils 21st Russia sanctions package with banks, crypto, shadow-fleet support vessels and fisheries in scope

The European Commission put forward the 21st Russia sanctions package on 9 June, targeting energy, financial services, crypto, trade and entry restrictions for former Russian combatants. The package proposes pausing the oil-price-cap adjustment until January 2027, listing 30 more shadow-fleet vessels on top of 632 already sanctioned, targeting vessels that provide bunkering or support services to the shadow fleet, expanding transaction bans to 31 Russian banks and 20 third-country banks, crypto platforms and oil traders, and creating a full third-country ban tool for crypto-asset services.

For law firms and in-house teams, the practical work is immediate: update sanctions-list monitoring, crypto and financial-services screening, shipping diligence, fisheries/import controls, and energy-contract force-majeure or compliance clauses before the package is formally adopted.