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The EU Wednesday clarified that certain companies and people in Russia and Belarus are banned from trading digital assets in the EU. The update came as part of a EU foreign ministers adopted a 16th package of sanctions against Russia on, which targets a cryptocurrency exchange for the first time, a Council statement said. These take aim at Russia’s so-called shadow fleetold tanker ships that Moscow uses to covertly transport and sell its oil around the world. Officials are already Article 5b(2) of Council Regulation (EU) No 833/2025 states that “It shall be prohibited to provide crypto-asset wallet, account or custody services to Russian nationals or natural persons The EU has adopted its 16th sanctions package against Russia. The measures include new restrictions on cryptocurrency transactions and digital asset services. On 24 February the EU introduced the 16 th package of EU sanctions against Russia and Belarus. The new round expands the scope of the trade sanctions Specifically, in the eighth package of severe sanctions against Russia over its aggressive actions in Ukraine, the EU has introduced additional bans, including (but not limited

EU Tightens Crypto Noose Around Russia: Announces Additional Sanctions

The European Union is intensifying its efforts to restrict Russia's access to cryptocurrency, announcing a new round of sanctions designed to clamp down on digital asset usage. The EU Wednesday clarified that certain companies and people in Russia and Belarus are banned from trading digital assets in the EU. This move aims to further isolate Russia economically in response to the ongoing conflict in Ukraine.

The update came as part of a EU foreign ministers adopted a 16th package of sanctions against Russia on, which targets a cryptocurrency exchange for the first time, a Council statement said. These sanctions specifically target entities that may be helping Russia circumvent existing financial restrictions. These take aim at Russia’s so-called shadow fleetold tanker ships that Moscow uses to covertly transport and sell its oil around the world.

Article 5b(2) of Council Regulation (EU) No 833/2025 states that “It shall be prohibited to provide crypto-asset wallet, account or custody services to Russian nationals or natural persons. This demonstrates the EU's commitment to preventing Russians from using cryptocurrency to bypass sanctions.

Key Highlights of the EU's Crypto Sanctions Against Russia:

  • Expanded Restrictions: The EU has adopted its 16th sanctions package against Russia. The measures include new restrictions on cryptocurrency transactions and digital asset services, further limiting Russian access to the digital asset market within the EU.
  • Targeted Cryptocurrency Exchanges: For the first time, a cryptocurrency exchange is being directly targeted by the EU's sanctions regime, signaling a more aggressive approach to enforcing these restrictions.
  • Broader Trade Sanctions: On 24 February the EU introduced the 16 th package of EU sanctions against Russia and Belarus. The new round expands the scope of the trade sanctions, making it harder for Russia to access goods and services through digital asset channels.
  • Further Bans Introduced: Specifically, in the eighth package of severe sanctions against Russia over its aggressive actions in Ukraine, the EU has introduced additional bans, including (but not limited to) preventing the provision of crypto wallet and custody services to Russian nationals.

The EU's continued tightening of the crypto noose around Russia underscores its determination to use all available tools to exert economic pressure and encourage a resolution to the conflict in Ukraine. The effectiveness of these sanctions in preventing Russia from using cryptocurrency to circumvent financial restrictions remains to be seen, but the EU's actions send a clear message of its commitment to enforcing these measures.

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