EU Targets Crypto in Sanctions Against Russia

[johnblockbuster]

The European Union’s 19th sanctions package has, for the first time, included cryptocurrency platforms.

All crypto transactions for Russian residents will be prohibited.

Restrictions extend to foreign banks tied to alternative Russian payment systems.

Entities in Russian special economic zones also face new limits.

EU Commission President Ursula von der Leyen:

“As evasion tactics grow more sophisticated, our sanctions will adapt to stay ahead.”

These measures are still pending approval by all 27 EU member states.

[jacson4]

The EU finally targeting crypto platforms shows how central digital assets have become in sanctions evasion strategies.

[Nahid10]

Full ban on Russian crypto transactions will have huge ripple effects—especially for OTC desks and cross-border remittances.