EU Seeks Transaction Ban on 11 Crypto Platforms in Russia Sanctions Push

The European Union proposed banning transactions on 11 crypto platforms as part of its 21st sanctions package against Russia. Kaja Kallas, vice president of the European Commission and the EU’s high representative for foreign affairs and security policy, outlined measures targeting banks, weapons manufacturers, oil traders, refineries and entities outside the bloc.

“We will also tighten our ban for crypto-asset services to certain third countries, add new designations, and ban transactions on 11 crypto platforms,” Kallas said in a post on X. The Commission did not identify the 11 platforms in public statements and did not provide additional details before publication.

European Commission President Ursula von der Leyen said the package also targets 31 additional Russian banks and 20 entities in third countries, including banks, crypto platforms and oil traders. She said those targets had serviced sanctioned Russian individuals and entities or helped to circumvent EU measures.

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