EU's 21st sanctions package targets 11 crypto operators and 94 financial institutions, expanding enforcement authority to block entire jurisdictions from facilitating Russia sanctions evasion.
Regulation & Gov ·
EU member state envoys have agreed on a 21st sanctions package targeting Russia, according to Reuters reporting. The measures designate 94 Russian financial institutions and the Moscow Exchange for full sanctions while broadening transaction restrictions on additional cryptocurrency platforms. The package also marks the first time sanctions have directly targeted vessels that support Russia's shadow fleet operations.
The sanctions also freeze Russia's oil price cap at $44.10 per barrel for a 12-month period. The expansion of crypto platform restrictions reflects efforts to constrain financial flows that may circumvent existing sanctions regimes.
The full scope of implementation across EU member states and the specific identities of the newly targeted crypto platforms remain unspecified in available reporting.