EU Escalates Russia Sanctions with Proposed Ban on 11 Crypto Platforms

Highlights:

• The EU plans to ban transactions involving 11 crypto platforms as part of its latest sanctions package against Russia.
• The sanctions now target more banks, oil traders, ports, airports, and crypto-related services in Russia.
• Regulators have increased scrutiny of Russia-linked crypto activity, including the A7A5 stablecoin.

The European Union plans to ban transactions involving 11 crypto platforms under a new sanctions package against Russia. European Commission Vice President Kaja Kallas announced the proposal while presenting the bloc’s 21st sanctions package.

BREAKING: EU plans to sanction '20 non-EU entities' including Bitcoin and crypto firms that are helping Russia evade sanctions. pic.twitter.com/JQrKoXSQrp

— Bitcoin Archive (@BitcoinArchive) June 10, 2026

Kallas said the package would tighten restrictions on crypto-asset services operating from certain third countries. The package would also target banks, weapons manufacturers, oil traders, refineries, and crypto operators outside the European Union.

Kallas said:

“We intend to deal a heavy blow to Russia’s financial sector, imposing asset freezes on close to 90 banks and additional transactions bans on over 30 banks in Russia and other third countries. We will also tighten our ban on crypto-asset services to certain third countries, add new designations, and ban transactions on 11 crypto platforms.”

European Commission President Ursula von der Leyen said the package would add 31 Russian banks to the sanctions list. The proposal also targets 20 non-EU entities, including banks, crypto platforms, and oil traders. Von der Leyen said the targeted entities served sanctioned Russian individuals and organizations. She said some entities helped Russia circumvent existing sanctions.

Kallas said the package includes more than 170 new sanctions proposals. The listings target entities operating in the financial sector, energy sector, and drone manufacturing industry.

The package follows 81 additional listings that EU foreign ministers are expected to adopt next week. Those listings target Russia’s shadow fleet, military-industrial complex, human rights violators, and propagandists.

Russia Sanctions Reach New Digital Channels

The proposal introduces a possible country-level ban on crypto services from certain non-EU jurisdictions. Von der Leyen said the measure would target countries hosting platforms linked to sanctions evasion.

The package arrives as Russian authorities prepare a new crypto regulatory framework expected in July. The framework would establish licensed domestic crypto trading platforms inside Russia. The sanctions package also targets Russia’s energy and transport sectors. European officials plan to impose restrictions on additional oil vessels connected to Russian exports.

“Energy sales keep Russia’s war machine running. We want to cut this cash flow. We will introduce a temporary freeze of the Russian oil price cap and new restrictions on the resale of LNG tankers to Russia,” Kallas said.

The package would add 30 vessels to the sanctions list linked to Russia’s shadow fleet. Any vessel supplying or refueling sanctioned ships could also face restrictions. The proposal includes transaction bans on two Russian ports and four Russian airports.

Kallas said the new listings include more than 30 entities connected to drone production. The package also expands export controls to 50 companies located in China, Türkiye, Kyrgyzstan, Kazakhstan, the United Arab Emirates, and India. The proposal would restrict exports of nickel powders, metals, and high-performance alloys. It would also restrict imports of car parts, chemicals, and several precious-metal ores.

Blockchain research firm Elliptic identified five crypto exchanges in February that allegedly facilitated sanctions evasion activities. Elliptic said those exchanges provided financial pathways outside traditional banking oversight.

Earlier Enforcement Cases Reveal Emerging Risks

The European Union has undertaken previous sanctions on entities linked to Russia. The EU recently sanctioned the A7A5 stablecoin and its developer, the issuer in Kyrgyzstan, and the operators of connected platforms.

Meanwhile, the United Kingdom sanctioned Huobi Global S.A., the Panama-based company behind HTX, in February. UK authorities alleged that Huobi Global S.A. supported Russia-linked financial networks connected to A7 Limited Liability Company and Garantex.

ZachXBT: UK Sanctions on HTX Have Made On-Chain Risk Scores ‘Meaningless’

ZachXBT argued that UK sanctions against HTX have led to excessive address tainting, making sanctions-related risk labels less useful for blockchain investigations. He said compliance systems often… pic.twitter.com/VxpQg7SILi

— Wu Blockchain (@WuBlockchain) June 8, 2026

HTX denied the allegations and said Huobi Global S.A. operates separately from the online exchange. Global Ledger reported that HTX processed about $21.06 billion in high-risk crypto flows between 2021 and May this year. The firm linked at least $7.64 billion of that volume to Russian high-risk entities and darknet markets, including Garantex, Grinex, A7A5, and Hydra.