The European Union announced its 16th package of sanctions against Russia on Feb. 24. Among the new targets of the sanctions is the cryptocurrency exchange Garantex, which has already been under sanction by the United States for three years.

The European Union's latest sanctions against Moscow include a ban on third-country airlines flying to the 27-nation bloc if they carry out domestic flights in Russia, the European Commission said on Monday.

The EU’s most extensive sanctions package, alongside new UK measures, aims to cripple Russia’s war efforts, tighten energy restrictions, and combat sanctions evasion as the war in Ukraine enters its fourth year.

European Union envoys have approved new sanctions against Russia, with the measures set to enter into force next week on the third anniversary of its full-scale invasion of Ukraine

The new entries being sanctioned were ‘identified as supporting the Russian military-industrial complex or engaged in sanctions circumvention’, the EU said.

EU foreign ministers adopted a 16th package of sanctions against Russia on, which targets a cryptocurrency exchange for the first time, a Council statement said.

The foreign ministers of the EU countries unanimously supported the 16th package of EU sanctions against Russia on Monday in Brussels. According to an EU source, this package will target additional sectors of the Russian economy and a portion of the so-called shadow fleet that transports oil from Russia.

The foreign ministers of EU countries unanimously supported the 16th package of EU sanctions against Russia on Monday in Brussels. According to an EU source, this package will target additional sectors of the Russian economy,