EU Strikes Russia’s War Economy with New Crypto Bans and Banking Sanctions
- EU bars transactions with 14 crypto platforms accused of helping Russia evade sanctions.
- The package targets 94 financial institutions, while 33 Russian banks lose SWIFT access.
- Brussels freezes the Russian oil price cap at $44.10 per barrel for the next 12 months.
The European Union approved its 21st sanctions package against Russia on Thursday. It extends restrictions to crypto operators, banks and the Moscow Exchange. Brussels said the measures target financial channels that help sustain Russia’s war economy.
According to a report, EU persons are barred from transacting with 14 crypto platforms accused of helping Russia bypass existing restrictions. The Council did not name the platforms in its initial announcement, although it identified the six jurisdictions where they are based.
EU Expands Crypto and Banking Sanctions
The package also gives the EU aut…
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