EU Imposes Widespread Sanctions Against Russia, Targets Crypto Platforms and Energy Sector

The European Union has imposed its largest round of sanctions against Russia in four years, including new rules to ban transactions with third-country crypto providers.

The measures, adopted on July 23, 2026, target financial services, crypto platforms, energy companies, and military suppliers. The package includes asset freezes for 94 banks and major financial institutions, as well as transaction bans for another 33 Russian lenders.

The EU has added 14 crypto platforms located in six jurisdictions to its sanctions list, citing their links to payment routes used to bypass earlier restrictions. These new rules create a path for banning transactions with crypto providers operating outside the European Union, which can be used when a platform helps Russia avoid financial restrictions.