Kaja Kallas, who serves as the High Representative of the European Union for Foreign Affairs and Security Policy, announced the move as Brussels stepped up efforts to choke off revenues supporting Moscow’s war in Ukraine.
Russia launched its full-scale invasion of Ukraine in February 2022.
Announcing the package, Kallas said the measures would target companies linked to Russia’s military-industrial complex, including entities based in India, China, Turkiye, Kyrgyzstan, Kazakhstan, and the UAE.
“Brick by brick, we are collapsing the foundations of Russia’s war economy,” Kallas said in a post on X.
Kallas described it as the EU’s largest set of sanctions listings in more than two years, with over 170 proposed designations focused on the financial sector, energy industry, and drone production.
“We are depriving Russia of the means to fund its war,” she said.
According to Kallas, the measures would impose asset freezes on nearly 90 banks and additional transaction bans on more than 30 banks in Russia and third countries. The EU also plans to ban transactions involving 11 crypto platforms and tighten restrictions on crypto-asset services.
In the energy sector, Brussels is proposing a temporary freeze of the Russian oil price cap, fresh restrictions on the resale of LNG tankers to Russia, and sanctions on 30 additional vessels linked to Moscow’s shadow fleet.
The package would further target more than 30 entities involved in drone manufacturing and restrict exports of materials and technologies, including nickel powders, metals, and high-performance alloys used in production.
The EU and its Western allies have imposed multiple rounds of sanctions aimed at limiting Moscow’s ability to finance the war and procure critical technologies in the last few years.
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First Published: Jun 10, 2026 12:21 PM IST
