On June 10, 2026, the European Union unveiled its 21st sanctions package against Russia. We break down which crypto platforms are now targeted.
The European Commission has proposed adding up to 90 Russian banks to its full sanctions list. Once the package takes effect, the total number of sanctioned banks will exceed 100. These institutions account for more than 50% of Russian credit organizations with international ties. The package also bans transactions with 35 specific banks.
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On the crypto front, the EU has banned transactions with 11 platforms. European authorities say these platforms help Russia evade sanctions through third countries. For the first time, the bloc also introduced the option to fully ban crypto services from certain non-EU countries where such platforms operate.
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What European Officials Said
European Commission President Ursula von der Leyen said the package focuses on key sectors, including financial and crypto restrictions. The new measures aim to close existing loopholes. She added that the move sends a clear signal to countries that allow sanctions-evading platforms to operate.
EU foreign policy chief Kaja Kallas confirmed the bloc is tightening its crypto asset ban on specific third countries. The package also adds new sanctioned individuals and directly bans transactions with 11 crypto platforms.
The names of the platforms and banks were not disclosed in public statements.
Read more: Hyperliquid and Paradigm Urge US to Soften AML Rules for Stablecoins
EU and Russia: What Happened Before?
The new package continues the policy set by the 20th sanctions package, which took effect on May 24, 2026. That earlier round introduced industry-wide bans on Russian crypto organizations involved in money transfers. It also tightened restrictions on ruble-pegged stablecoins, including A7A5 and RUBx.
In late May, the UK also sanctioned several Russia-linked crypto services, including HTX, Rapira, Bitpapa, and EXMO. Some platforms have already responded by restricting operations with sanctioned counterparties.
Russia, for its part, is preparing its own comprehensive crypto regulatory framework. The new rules, expected by July 2026, would create licensed domestic trading platforms.
Read more: China Crypto Regulation — Why Bitcoin Is Effectively Banned in the World’s Largest Market
What This Means for Crypto Markets
Analysts expect the new European sanctions to further shrink channels for cross-border crypto transactions tied to Russia. That will increase pressure on third countries and platforms serving Russian users.
In the long run, these measures could accelerate the development of homegrown Russian solutions. They could also push regulators in other jurisdictions to tighten crypto compliance.
Learn more: Is Crypto Dead? Fear & Greed Index Hits Critical Lows as Investor Panic Spreads
