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 European Union must take greater control of its sanctions policy against Russia as U.S. priorities shift, EU Economy and Trade Commissioner Valdis Dombrovskis said on Feb. 18.

In January, Budapest, which has maintained close ties with Moscow through the war, held up the renewal of the economic sanctions that include the immobilisation of Moscow's central bank assets. An agreement was reached after the European Commission agreed to include Hungary in talks about resuming gas transit to the EU through Ukraine.

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.

The EU has introduced its 16th sanctions package against Russia, expanding financial restrictions, trade bans, and crypto-related controls.

Europe must support Ukraine more than ever, its foreign policy chief said on Monday, as the bloc agreed to impose more sanctions against Russia ahead of a flurry of meetings in Brussels, Kyiv and Washington this week.

European Commission President Ursula von der Leyen will ask for Indian Prime Minister Narendra Modi’s assistance to enforce sanctions on Russia when the two leaders meet this week in New Delhi.

China urged the European Union to stop sanctioning Chinese companies and discrediting the country, its commerce ministry said on Tuesday, after Chinese entities and individuals were included in the EU's latest sanctions package against Russia.

By Newsbase The EU has imposed additional measures against Russia’s oil and gas industry as part of its 16th sanctions package, while stopping short of any further restrictions on the bloc’s purchase of Russian LNG.