The European Union’s planned 21st sanctions package against Russia is expected to include restrictions targeting cryptocurrency platforms operating in Georgia, according to the Financial Times. The measures are reportedly aimed mainly at crypto firms and digital asset platforms located outside Russia that Brussels suspects of servicing sanctioned actors and facilitating sanctions evasion.

The draft package would also target 31 Russian banks and 20 oil trading companies active in third countries, in what appears to be a broader attempt to tighten pressure on Russia’s financial infrastructure and energy export networks.

According to the Financial Times, the proposed sanctions list includes 11 cryptocurrency platforms registered in several jurisdictions, including Belarus, Georgia, Nigeria, Panama, the United Arab Emirates, and the Marshall Islands. The package also reportedly names four banks based in Kyrgyzstan, Mongolia, and India, along with five oil traders registered in the UAE.

Another element of the proposed measures concerns Russian nationals who have served in the country’s armed forces since the launch of Moscow’s full-scale invasion of Ukraine. The EU is reportedly preparing visa restrictions against this category of Russian citizens.

Brussels is also weighing a delay in lowering the price cap on Russian oil until January. The Financial Times reports that the possible postponement is intended to prevent Russia from benefiting from higher oil revenues at a time when prices have risen amid the war with Iran.

The sanctions package requires the unanimous approval of all EU member states. The agreement must be reached by July 15; otherwise, the oil price cap will automatically increase from its current level of $44.10 per barrel.

The draft also includes further import restrictions on selected metals and seafood products. These measures form part of the EU’s wider effort to reduce Russia’s economic resilience, limit export earnings, and close remaining loopholes used to bypass earlier sanctions.