EU Council Approves 21st Russia Sanctions Package, Bans Trading with 14 Third-Country Crypto Platforms

According to Foresight News, on July 23, the EU Council approved its 21st sanctions package against Russia, expanding trading bans to 14 crypto platforms registered in Georgia, Panama, the UAE, Marshall Islands, Kyrgyzstan, and Belarus. The EU also introduced its first country-level crypto service ban mechanism, allowing local operators to be prohibited from transacting with any third-country crypto providers used by Russia to evade sanctions.

The sanctions package also targeted 94 Russian banks and large financial institutions with asset freezes, extending trading bans to an additional 33 Russian credit and financial institutions. The total sanctions list comprises 218 entries—48 individuals and 170 entities—marking the EU's largest expansion in four years.