EU Slaps Sanctions on Russian Crypto Operators and Banks

The European Union has introduced its 21st sanctions package against Russia, targeting 14 crypto service platforms and 94 banks and financial institutions. The measures aim to restrict services used by Russia to bypass existing financial restrictions.

According to the Council of the European Union, the crypto providers targeted are based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus. EU authorities have linked these platforms to services used by Russia to evade sanctions.

The package includes 218 individual listings, including 48 people and 170 entities, making it the EU's largest group of new listings in four years. The measures cover financial services, energy, military suppliers, and organizations accused of supporting sanctions evasion.