EU Proposes Banning Transactions on 11 Crypto Platforms in 21st Russia Sanctions Package

The European Union has proposed banning transactions on 11 crypto platforms as part of its 21st sanctions package against Russia, with the plan tied to tightening controls on crypto-asset services in certain third countries.

EU foreign policy chief Kaja Kallas said, “We will also tighten our ban for crypto-asset services to certain third countries,” and she wrote on X that the package would “ban transactions on 11 crypto platforms.”

@coindesk

The European Commission did not disclose the names of the 11 platforms, while the proposal also targets 31 additional Russian banks and 20 entities in third countries, including banks and crypto platforms.

The proposal is set to be discussed among member states, and it follows action by the United Kingdom on May 26 that sanctioned Huobi Global S.A., the company linked to HTX.

The Irish Independent reported that the package would be presented to EU ambassadors on Wednesday for negotiations, with sanctions requiring unanimity to be adopted.

While the EU proposal would “ban transactions on 11 crypto platforms,” the Commission did not disclose the names of those platforms, leaving the targets unidentified in public materials.

The Irish Independent said the package would propose listing 170 individuals and entities, including close to 90 banks, and it described the crypto element as transaction bans on 35 banks and 11 crypto platforms that help Russia evade Western restrictions including in third countries.

Bitcoin News

In the UK action referenced by Blockonomi, authorities sanctioned Huobi Global S.A. linked to HTX and cited links to A7 Limited Liability Company and Garantex, while HTX denied the allegations and rejected the claims.

Blockonomi also cited a Global Ledger report that said HTX processed about $21.06 billion in high-risk crypto flows between 2021 and May 2026, including at least $7.64 billion linked to Russian high-risk entities and darknet markets.

The Irish Independent added that European Commission President Ursula von der Leyen said the package lays the basis for future tougher measures on crypto at country level, including “the possibility of a full third country ban for crypto asset services.”

The EU’s 21st sanctions package is framed as a wider effort to squeeze Russia’s war economy, with Kaja Kallas saying the bloc intends “to deal a heavy blow to Russia’s financial sector.”

“Table of Contents The European Union has proposed banning transactions on 11 crypto platforms under its 21st sanctions package againstRussia”

Blockonomi

Blockonomi reported that the package would impose assets freezes on close to 90 banks and additional transactions bans on over 30 banks in Russia and other third countries, while also tightening crypto-asset service restrictions to certain third countries.

The Irish Independent said the package would take the total number of listed banks to over 100, or more than half of the 213 internationally connected lenders, and it described banks coming under asset freezes, travel and transaction bans.

Beyond crypto, the European Business Magazine said the proposal would also freeze the oil price cap mechanism by suspending the automatic adjustment until January 2027, and it reported that the EU aims to approve the full package by 15 July.

In the same package, the European Business Magazine said the EU would ban 11 crypto platforms and tighten restrictions on crypto-asset services to third countries, while also proposing a visa prohibition on current and former Russian military personnel.