The European Union is developing its twentieth sanctions package against the Russian Federation, aimed at increasing pressure on the banking sector, oil companies, and other key areas of the Russian economy.
This is reported by Kyiv24
New Restrictions for Banks, Oil, and Cryptocurrencies
According to sources close to the negotiations, the new sanctions package includes additional restrictions on Russian banks and oil enterprises. Furthermore, the EU plans to impose sanctions on cryptocurrency platforms and financial companies in third countries that, in the EU’s view, facilitate the circumvention of existing restrictions. The sanctions list will also include new vessels of the so-called “shadow fleet.”
Combating Sanctions Evasion and New Trade Bans
The EU is considering the possibility of applying a special mechanism to counter sanctions evasion for the first time by introducing a ban on the export of machinery and certain types of radio equipment to Kyrgyzstan. There are also plans to expand the list of trade restrictions on companies and goods used for military production in Russia, as well as to impose a ban on the import of certain metals from the Russian Federation.
The head of European diplomacy, Josep Borrell, noted that the adoption of the 20th sanctions package is scheduled for February 24, 2026. Among the proposed measures are a ban on servicing Russian oil tankers, restrictions on the export of luxury goods to Russia, and a reduction in quotas for the import of Russian fertilizers. This initiative is supported by Finland and Sweden.
“The previous, 19th sanctions package was approved by the European Union at the end of October 2025. It aimed to reduce Russia’s energy revenues, increase financial pressure, and control the circumvention of restrictions through third countries.”