The European Union has listed 14 crypto service platforms in its 21st sanctions package against Russia, part of 218 new listings adopted on July 23. The package also hands Brussels a new tool to block crypto services across entire countries that host providers helping Russia evade restrictions.
The European Union has listed 14 crypto service platforms alongside 94 banks and financial institutions in its 21st sanctions package against Russia, according to the Council of the European Union. The providers sit in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus, jurisdictions the EU says host services used to bypass existing financial restrictions.
Adopted on July 23, the package contains 218 individual listings, covering 48 people and 170 entities. The Council called it the bloc’s largest group of new listings in four years, spanning financial services, energy, military suppliers and organizations accused of supporting sanctions evasion.
Crypto routes face direct transaction bans
For crypto firms, the package bars EU operators from transactions with the 14 listed platforms. The Council has not presented all of them as Russian businesses, instead pointing to providers in foreign jurisdictions that it says have enabled Russian-linked transfers.
Brussels also added four designations connected to the A7 cross-border payments network, including entities tied to its activity in Africa. The Council has previously identified third-country payment channels as part of Russia’s efforts to keep access to international finance after sanctions restricted its banking sector.
A new power to block services by country
Beyond the individual bans, the package gives the EU a mechanism to prohibit crypto-asset services linked to an entire third country. The Council said it may use the power when a country hosts crypto providers that help Russia evade EU restrictions.
Existing rules already cover Russia’s central bank, more than 100 Russian banks and services involving crypto wallets, accounts or custody. The bloc also bars Russian nationals or residents from owning or controlling companies that provide those crypto services.
Kaja Kallas said the bloc was targeting more than 100 banks and crypto operators, over 40 shadow-fleet vessels and several refineries in Russia and Belarus, with more than 50 listings tied to Russia’s military-industrial sector.
Source: crypto.news
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