A diplomatic source in the EU said that the 'EU' is planning to propose on Wednesday a 21st set of'sanctions' against Russia for 'its' 'war in Ukraine'. The sanctions will target the country's banks and crypto networks, increasing the risk of a financial crisis and Moscow's willingness to negotiate a settlement.

The package is expected to list 90 banks, the largest in one go. This would bring the total number of listed banks up to 100 and represent more than half of Russia's international lenders.

Banks will be subject to the full weight of EU sanctions, including asset freezing, travel bans and transaction bans.

The source said that the European Commission would 'propose' to ban transactions with 35 banks and a dozen crypt platforms which help Russia evade Western restraining measures, including in third-country countries. Source: (Reporting and editing by Julia Payne)

(source: Reuters)