EU Sanctions Expand to New Crypto Platforms, Target Russia's Shadow Fleet

The European Union has expanded its sanctions against Russia to include new crypto platforms and targeted vessels supporting Russia's shadow fleet for the first time.

This move is part of a 21st sanctions package that includes 94 Russian financial institutions and the Moscow Exchange under full sanctions. The EU had previously banned Russian nationals and residents from using EU-based crypto services, but now this ban is being extended to more platforms.

The new measures also freeze the Russian oil price cap at $44.10 per barrel for 12 months, signaling that European policymakers are planning for a prolonged standoff rather than a short-term fix.