The European Union has proposed expanding the ban on crypto platforms that help Russia evade sanctions.
Ursula von der Leyen, president of the European Commission, announced a 21st sanctions package against Russia that focuses on high-impact sectors, including financial and crypto restrictions. The EC is EU's executive arm and one of its main institutions.
According to the Tuesday announcement, the EC plans to extend transaction bans to 20 non-EU entities, including banks, crypto platforms, and oil traders that have been servicing sanctioned Russian entities and individuals.
Moreover, the EC president said the commission may introduce, for the first time, a full country-level ban on crypto services from non-EU countries that host platforms helping Russia evade sanctions.
"It will act as a strong deterrent for the countries hosting platforms that help Russia evade our sanctions," von der Leyen said in the statement. Earlier this year, the EU was reportedly considering a blanket ban on crypto transactions with Russian entities.
The proposed 21st sanctions package comes after the total value received by illicit crypto addresses rose to $154 billion in 2025, according to Chainalysis. Russia-linked transactions accounted for a large share of state-linked crypto activity, as evidenced in part by the $93.3 billion in transaction volume of the ruble-backed stablecoin A7A5, the blockchain analytics company said.
In February, blockchain research firm Elliptic identified five crypto exchanges that facilitated Russia's sanctions evasion by providing financial pathways shielded from traditional banking oversight. Last month, the UK's Financial Conduct Authority sanctioned HTX, formerly known as Huobi Global, for supporting the Russian government.
Meanwhile, Russia is preparing a comprehensive crypto regulatory framework expected this July, which would establish licensed domestic trading platforms.
Beyond crypto-related measures, the 21st package aims to broaden restrictions on Russia's energy and trade sectors by targeting oil vessels and blacklisting Russian fisheries for the first time.
"Our sanctions keep biting hard and cutting deep," von der Leyen said. "They are weakening the economic foundations of Russia's war effort."
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