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EU Seeks to Block Russian Crypto Infrastructure With New Sanctions Package

EU Seeks to Block Russian Crypto Infrastructure With New Sanctions Package

New sanctions package targets entities accused of helping Russia evade restrictions.

Written by Rahul Dhingra, Edited by David Delima | Updated: 10 June 2026 18:51 IST

EU Seeks to Block Russian Crypto Infrastructure With New Sanctions Package

Photo Credit: Unsplash/Sasun Bughdaryan

European Commission proposes broader sanctions targeting digital asset firms

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Highlights

Proposal includes sanctions on 11 crypto exchanges
EU plans restrictions on 31 additional Russian banks
Kallas outlines measures targeting Russia’s industrial sector

The European Union (EU) has proposed a ban on transactions with 11 crypto exchanges under its latest sanctions package on Russia. Kaja Kallas, Vice President of the European Commission and High Representative of the European Union for Foreign Affairs and Security Policy, highlighted steps that the EU plans to take against financial institutions, arms makers, oil companies, etc. The proposal would extend the existing sanctions campaign by the European Union to include cryptocurrency companies that allegedly aid Russia in evading the imposed sanctions following its invasion of Ukraine.

Package Expands Restrictions to Banks, Crypto Firms and Oil Traders

The European Commission President, Ursula von der Leyen, said in her statement that the package includes bans on 31 additional Russian banks and 20 entities in third countries, which include banks, crypto platforms, and oil trading companies. She added that the targets had assisted sanctioned Russian individuals and entities or helped them in dodging EU measures.

In a post on X by Kaja Kallas, vice president of the European Commission and the EU's high representative for foreign affairs and security policy, Kallas stated that the commission is aiming to target companies providing support to Russia's military-industrial complex. “We will also restrict export of additional materials and technologies, such as nickel powders, metal, and high-performance alloys, to further disrupt Russia's production capacity. Import of new items, including car parts, several precious metals ores, and chemicals, will also be restricted.”

MiCA Architect Urges EU to Focus on Tokenisation Over DeFi Rules

HTX was sanctioned last month by the UK's Commonwealth and Development Office (FCDO) because it had "reasonable grounds to suspect" that HTX provided financial services to Russia's government. The main target of this move was the A7 network, which is a group of companies that had claimed to drive around $90 billion (roughly Rs. 8,61,120 crore) into the Russian economy last year using crypto. In May 2025, FCDO had also sanctioned A7 LLC, a Russian company that backs the Ruble-stablecoin A7A5, which was used to support Russia in its war against Ukraine.

The proposal is an indication of the growing interest within the EU in ensuring that sanctions are enforced by extending them to the digital assets industry as well. If the proposals are accepted, additional limitations will be put on firms involved in dodging the sanction measures, as well as crypto exchanges operating worldwide. This decision also shows the increasing importance of digital assets in geopolitics and finance, as they come under scrutiny for their usage in international transactions.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto Regulations, European Union (EU), Cryptocurrency

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More