After weeks of negotiations, the EU Member States reached an agreement on the 19th sanctions package against Russia on 23 October 2025. This marks another step in tightening the economic measures against Moscow. The agreement remained uncertain until the end, as Slovakia – and temporarily also Austria – had expressed reservations. Austria withdrew its objections, while Slovak Prime Minister Robert Fico only dropped his veto after talks in the European Council.
As already outlined in the blog post on the 19th sanctions package, the measures include new restrictions in the energy and financial sectors as well as export bans for goods and services that can be used in the Russian arms industry or other strategic sectors. Combatting the use of cryptocurrencies and extending sanctions to the shadow fleet of Russian oil tankers are also key elements.
Financial Sector
Specifically, five Russian banks have now been named, against which transaction bans are to be imposed. In addition, the Russian payment systems Mir and SBP, as well as SPFS users in Belarus and Kazakhstan, have been added to the sanctions list. This means the EU is increasingly targeting alternative financial channels through which Russia has so far circumvented international restrictions.
For the first time, a rouble-backed stablecoin (A7A5) issued in Kyrgyzstan and an associated trading platform are affected. Furthermore, a crypto exchange in Paraguay has been listed. EU companies are now prohibited from offering crypto and certain FinTech services to Russian actors. Transaction bans also apply to five banks from Central Asia that are considered supporters of Russia’s war economy. This increases financial pressure on third countries that indirectly enable Russia to access international markets.
Tighter US Sanctions
In parallel with European measures, the United States has also imposed new sanctions against Russia. President Donald Trump announced punitive measures against Russia’s two largest oil companies, Rosneft and Lukoil, prohibiting any economic interaction with them. According to Trump, “now was the right time” for this step – also due to domestic political pressure from the US Congress, which has been calling for tougher measures against Russia for months.
The coordinated action by the EU and the US sends a transatlantic signal that further increases pressure on the Russian energy sector and its international partners.
Conclusion
With the agreement and the entry into force of the 19th sanctions package, the EU sends a clear message of political unity. The package closes further gaps in the existing catalogue of measures to sustainably restrict Russia’s economic leeway.
