The European Union has approved the 18th package of sanctions against the Russian Federation, significantly expanding restrictions on the financial sector, cryptocurrency operations, and the military industry. The updated list includes 69 organizations, among which are two Chinese banks and four companies linked to the Russian Direct Investment Fund (RDIF).
This is reported by Business • Media
New Sanctions for Banks and Digital Assets
The financial restrictions affect 22 Russian banks, including T-Bank, Centrcredit, Yandex Bank, Metkombank, and Dom.RF Bank. European companies are now prohibited from any cooperation with these institutions, including messaging, specialized banking services, and operations with digital assets. As a result, the number of Russian banks under sanctions has reached 45.
For the first time, Chinese financial organizations have been added to the list — Heihe Rural Commercial Bank and Heilongjiang Suifenhe Rural Commercial Bank. They are suspected of assisting Russia in circumventing sanctions through operations with digital assets. The European Commission has stated that the new rules also apply to financial institutions in third countries if they help Russia minimize the impact of sanctions.
Restrictions for RDIF Companies and the Defense Industry
Four companies funded by the Russian Direct Investment Fund have also been sanctioned: BitRiver (cryptocurrency mining), Vizorlabs (video analytics), Labadvance (medical technologies), and Kama (developer of the electric car “Atom”). The EU has prohibited any operations with legal entities in which the RDIF has a stake, including the fund’s subsidiaries.
In the defense sector, 26 entities have been added to the blacklist, including the fiberglass manufacturer “Alabuga,” the engineering company NVP “Technologies of Progress,” as well as suppliers from China and Turkey. Additionally, eight Belarusian defense enterprises have been sanctioned.
The EU’s High Representative, Kaja Kallas, described the measures as “one of the most powerful sanctions packages.” Among other things, it includes a reduction of the price cap on Russian oil from $60 to $47.6 per barrel starting September 3, 2025, with further adjustments every six months.
It is also worth noting that on July 16, the EU imposed sanctions against pro-Russian influencer Simeon Boykov and the Moldovan cryptocurrency platform A7, accusing them of interfering in elections, spreading disinformation, and using cryptocurrencies to circumvent international financial restrictions.
On July 6, Ukrainian President Volodymyr Zelensky signed a new package of sanctions against Russia, with a particular emphasis on financial schemes involving digital assets. According to the head of state, these restrictions were prepared with the involvement of the National Bank of Ukraine and are aimed at weakening the military economy of Russia.
In the United States, a similar policy is ongoing — recently, U.S. authorities imposed sanctions against Aeza Group from Russia for facilitating cybercrime.