EU hits Russia with massive 21st sanctions package targeting $120B crypto network

The EU is considering a ban on third-country crypto services providers for the first time and is targeting 14 crypto companies, which it has not named yet.

Melinda 1 hour ago 3 minutes read

EU hits Russia with massive 21st sanctions package targeting $120B crypto network

The EU is considering a ban on third-country crypto services providers for the first time and is targeting 14 crypto companies, which it has not named yet.

By Olivier Acuna|Edited by Jamie Crawley

Jul 24, 2026, 11:58 a.m.

2 min read

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European Union (Guillaume Périgois/Unsplash) — The European Union has released a 21st sanctions package against Russia that includes crypto banks against 14 companies. (Guillaume Périgois/Unsplash)

Summary

The European Union has expanded its Russia sanctions to target the A7 cross-border payments network, including its new links to Africa, and the A7A5 stablecoin used for sanctions evasion.
The latest package widens a transaction ban to 14 crypto-related platforms in countries including Georgia, the UAE and Panama, and introduces a tool that could allow a full ban on crypto-asset services used by Russia.
Alongside the digital asset measures, the EU is freezing assets and banning transactions for 94 banks and major financial institutions, and extending its transaction ban to 33 additional Russian credit and financial institutions.