This expansion represents the largest single-tranche crackdown on Russian lenders, bringing the total number of blacklisted institutions to over 100. These entities collectively account for more than half of the country’s internationally connected banking sector. Under the proposed measures, targeted banks face asset freezes and comprehensive bans on travel and transactions.

Beyond direct listings, the European Commission is targeting the digital pathways used to bypass existing restrictions. The proposal includes a strict prohibition on transactions involving 35 specific banks and 12 crypto platforms identified as conduits for sanctions evasion. These digital assets, often operating through third-party countries, have become critical for maintaining financial flows. By severing these ties, EU officials hope to tighten the blockade on the Russian economy and increase pressure on the state’s ability to fund its ongoing war in Ukraine.