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

Odaily reports that 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. These services are accused of helping Russian authorities and enterprises bypass international sanctions.

In addition, the EU will strengthen the ban on cryptocurrency-related asset service providers in some 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 increase pressure on institutions that help Russia maintain channels for international financial transactions.

Apart from crypto services, the new round of sanctions will also involve the traditional financial sector. Approximately 90 Russian banks may face additional restrictions, with 31 of them planned to be fully banned from conducting transactions. Previously, in the 20th sanctions package, the EU had imposed sanctions on providers and platforms registered in Russia that allow cryptocurrency transfers and exchanges, and this ban took effect on May 24. (bits.media)