Ursula von der Leyen. // Photo: John Thys / AFP
The package is expected to include up to 90 banks—making it the largest single-batch list to date—and the total number of sanctioned banks will exceed 100, accounting for more than 50% of all Russian credit institutions with international ties.
The banks will face the full brunt of EU sanctions, including asset freezes, travel bans, and transaction restrictions.
In addition to the measures proposed by the EU’s diplomatic arm—the European External Action Service (EEAS)— the European Commission will propose banning transactions with 35 banks, as well as with a dozen cryptocurrency platforms that help Russia circumvent Western restrictions, including in third countries, a Reuters source added.
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