The European Union has cleared its 21st round of sanctions against Russia in response to the war in Ukraine, adding measures aimed at the country's banking system and cryptocurrency channels.
In a statement, the Council of the EU said the package covers 218 new listings, made up of 170 entities and 48 individuals.
Those listed will face sanctions measures including asset freezes, as well as travel and transaction restrictions.
The new package broadens EU steps against Russia's financial sector, which it described as supporting the country's war economy.
The Council said it is applying asset freezes and a ban on making funds available to 94 banks and major financial institutions, along with one key figure in Russia's banking sector.
The EU is widening its transaction ban to cover 33 more Russian credit and financial institutions.
In addition, it is imposing a transaction ban on a bank in Kyrgyzstan linked to the SPFS (System for Transfer of Financial Messages) ban, as well as three other non-Russian banks accused of helping to bypass sanctions.
The package also adds four listings connected to the cross-border A7 network, including what the Council described as new links to Africa.
It is also extending its transaction ban to 14 crypto-related service platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan and Belarus.
For the first time, the EU is creating the option of a full third-country ban on crypto-asset services as a deterrent to countries hosting platforms that assist Russia in avoiding EU sanctions.
The new measure would allow the bloc to prohibit any transaction between an EU operator and any crypto provider used by Russia.
European Commission foreign affairs and security policy high representative and foreign affairs council chair Kaja Kallas said: "With each round of sanctions, we squeeze Russia's economy and its capacity to prolong its illegal war. Our 21st package includes the highest number of listings in four years. We're hitting over a hundred banks and crypto operators, 40+ vessels in Russia's shadow fleet, and several oil refineries in Russia and Belarus.
"Russia will only negotiate to end its illegal war and stop killing civilians if it is pressured to do so. Sanctions add to this pressure."
"EU approves new Russia sanctions package targeting banks and crypto networks" was originally created and published by Retail Banker International, a GlobalData owned brand.