EU targets 14 crypto operators and 94 banks in Russia sanctions

The European Union has targeted 14 crypto service platforms and 94 banks and financial institutions under its 21st sanctions package against Russia. Summary EU sanctions target 14 crypto platforms and 94 banks over alleged Russian links. New powers allow the EU to block crypto services across entire jurisdictions. Measures also cover 41 shadow-fleet vessels, oil refineries and military suppliers. According to the Council of the European Union, the measures cover crypto providers based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus. EU authorities linked the platforms to services used by Russia to bypass existing financial restrictions. Adopted on July 23, the package contains 218 individual listings, including 48 people and 170 entities. The Council described it as the EU’s largest group of new listings in four years, covering financial services, energy, military suppliers and organizations accused of supporting sanctions evasion. EU High Representative Kaja Kallas stated that the bloc was targeting more than 100 banks and crypto operators, over 40 vessels in Russia’s shadow fleet and several refineries in Russia and Belarus. Kallas also ...