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EU Readies 19th Round of Sanctions Against Russia, Targeting Banks and Energy Firms

EU Readies 19th Round of Sanctions Against Russia, Targeting Banks and Energy Firms

European Commission President Ursula von der Leyen confirmed the EU’s upcoming sanctions package will also cover cryptocurrencies alongside banking and energy sectors, intensifying pressure on Russia’s financial and resource networks.

Summary

European Commission President Ursula von der Leyen stated that the Commission will soon propose its 19th sanctions package against Russia. The new measures will target cryptocurrencies, the banking sector, and energy-related activities. These additions expand on previous EU sanctions, which have restricted Russian banks, energy trade, and financial networks since 2022.

Terms & Concepts
  • Sanctions: Economic and political measures imposed by one or more countries to influence or penalize another country, often to deter certain actions or policies.
  • Cryptocurrencies: Digital assets secured by cryptography, operating on decentralized networks such as blockchain, often outside traditional financial systems.