EU to table 22nd Russia sanctions package before summit

The European Commission will present a 22nd sanctions package against Russia and a proposal on Ukraine’s 2027 financing needs before a special European Council summit on Nov. 26-27, Commission President Ursula von der Leyen said on Thursday, Reuters reported.

The package would come nearly five years into Russia’s full-scale invasion of Ukraine. The Commission is still debating its final details, so the content below reflects what EU diplomats told Reuters, not an adopted text.

Von der Leyen spoke ahead of a meeting with international leaders in Dublin. She said the Commission is “preparing a proposal (on) how to cover the financial needs of Ukraine in 2027.” She added: “We will come with the sanctions package and the proposal for the financial needs before the next European Council.”

EU diplomats told Reuters the package is expected to include new restrictions on banks, cryptocurrencies and crypto platforms, along with measures to close loopholes that let Russia circumvent sanctions through third countries. It may also include a ban on Belarusian and Russian athletes competing in international meets held in the EU.

Kaja Kallas, the EU’s foreign policy chief, told Reuters in an interview on the sidelines of a Group of Seven meeting this week that the sports measure matters to the Kremlin. “He doesn’t care about the lives lost on the battlefield, but he really cares about these big sports events,” she said of Russian President Vladimir Putin, adding that such events are where he can show his country is “big and powerful and accepted the same way as everybody else.” Kallas said talks were also continuing on possible visa restrictions on Russian ex-combatants.

Each EU sanctions package needs unanimous approval from the 27 member states, so the proposal is only the start of negotiations. Reuters did not report a date for a vote.

What it means for Canadians: Canada is a G7 partner of the EU on Russia sanctions, and Foreign Minister Anita Anand was set to press G7 counterparts on Russia at the Paris meeting, as we reported on Nov. 7. Any EU sanctions on banks and crypto platforms would put pressure on Ottawa to consider matching measures, though the Canadian government has not announced any such plan. Canada’s Ukrainian community, one of the largest outside Europe, has pressed for tougher action, as seen at a protest before an Ottawa game this week.

What happens next: The Commission is due to publish its proposals before the Nov. 26-27 summit of EU leaders. Details may change before then.

Via Reuters (reporting by Inti Landauro, Padraic Halpin, John Irish and Julia Payne), as carried by Global Banking & Finance Review, Nov. 12, 2026. Canada News Media has not independently confirmed the diplomats’ account. Support independent Canadian journalism at canadanewsmedia.ca.