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 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.

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