EU Hits 14 Crypto Firms and 94 Banks in Largest Sanctions Package
The European Union has imposed its largest sanctions package in four years against Russia, targeting 14 crypto firms and 94 banks for allegedly helping Russia evade restrictions. The package includes 218 individual listings, with 48 people and 170 entities facing asset freezes and transaction bans.
The EU's new tool allows it to ban crypto-asset services linked to an entire third country if found to be assisting Russia in evading EU rules. Four entities connected to the A7 cross-border payments network were designated for their alleged involvement in Africa, while 41 vessels were added to the shadow-fleet list.
The package also includes military-linked measures, adding 56 people and companies, with 37 listings tied to long-range drone production. Export controls have been tightened for 51 entities across several countries.