The European Union has proposed its 21st set of sanctions against Moscow following the full-scale invasion of Ukraine. These measures target banks, cryptocurrency firms, and the Kremlin's oil reserves.
A primary component of the proposal is to ban entry into the European Union for any individual who has served in the Russian armed forces since the start of the war. European Commission president Ursula von der Leyen stated that Europe will stay off limits for anyone who has participated in the invasion of Ukraine.
The sanctions package also targets the so-called shadow fleet and cryptocurrency exchanges used to dodge previous measures. Furthermore, the EU intends to maintain the price cap on Russian oil and delay its scheduled review to avoid granting Moscow economic relief, particularly as oil prices have surged following the closure of the Strait of Hormuz.