EU plans to impose sanctions on 11 crypto platforms cooperating with Russia

Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy, stated that the EU plans to introduce restrictive measures against 11 crypto platforms in the next (21st) sanctions package, as these services are accused of assisting Russian authorities and enterprises in circumventing international sanctions.

Furthermore, the EU will strengthen the ban on crypto asset-related service provisions targeting certain third countries, expand the sanctions list, and prohibit transactions with the aforementioned 11 crypto platforms. European Commission President Ursula von der Leyen stated that the new sanctions aim to intensify pressure on entities that help Russia maintain channels for international financial transactions.

In addition to crypto services, the new round of sanctions will also involve the traditional financial sector, with approximately 90 Russian banks potentially facing additional restrictions, 31 of which are planned to be completely banned from conducting transactions. Previously, in the 20th sanctions package, the EU had already imposed sanctions on suppliers and platforms registered in Russia that allow cryptocurrency transfers and exchanges. That ban took effect on May 24. (bits.media)