EU Hits Russia with 21st Sanctions Package

European Commission President Ursula von der Leyen has announced the EU’s 21st sanctions package against Russia, expanding restrictions to high-impact sectors including energy, financial services, cryptocurrencies, and trade. For the first time, the measures will also target the fishing sector and ban former Russian fighters from entering the European Union. Marking four years since the full-scale invasion of Ukraine, von der Leyen stated that the mounting restrictions have effectively cut Russia off from global capital markets and left hundreds of its shadow fleet vessels targeted. She noted that over two-thirds of the liquid assets in Russia’s sovereign wealth fund have been depleted, with the country’s energy revenues projected to plummet by approximately 40 percent by early 2026