EU Targets 90 More Russian Banks in Fresh Sanctions Push

The European Union has proposed a 21st sanctions package targeting 170 individuals and entities, including roughly 90 additional Russian banks. By expanding the blacklist to cover over half of the nation's internationally connected lenders, Brussels aims to close loopholes used to bypass existing restrictions on the financial sector and drone production.

Editorial·June 9, 2026·reads: 2,490

EU Targets 90 More Russian Banks in Fresh Sanctions Push

These measures require unanimous approval from EU ambassadors before taking effect. The proposal seeks to halt transactions for 35 specific banks, including several foreign institutions, alongside 11 cryptocurrency platforms accused of facilitating sanctions evasion. While many major Russian lenders were disconnected from SWIFT in 2022, the move targets smaller entities that have increasingly served as conduits for cross-border payments.

Beyond banking, the EU plans to tighten the oil price cap to curb Moscow’s revenue streams while restricting imports of fish and high-performance metal alloys used in aerospace and defense. Officials also intend to blacklist vessels linked to prohibited activities and impose stricter regulations on liquefied natural gas. Although Russia’s central bank denies the risk of a systemic collapse, these measures exert mounting pressure on an economy currently showing signs of a sharp growth slowdown.