The European Commission unveiled its 21st package of sanctions against Russia, encompassing measures in financial services, crypto assets, trade, and energy.
The financial segment includes asset freezes for nearly 90 banks and a ban on transactions for more than 30 credit institutions in Russia and third countries.
The package places particular emphasis on the crypto sector. For the first time, it proposes restrictions on 11 crypto platforms that the EU believes are facilitating sanctions evasion.
European Commission President Ursula von der Leyen announced plans to create a mechanism for a complete ban on crypto services from third countries if they assist in lifting restrictions.
The document also proposes freezing the current price cap on Russian oil at $44.1 per barrel for six months, along with restrictions against shadow fleets, traders, and refineries from third countries.
Additionally, import restrictions will, for the first time, affect fish products and high-performance metal alloys critical for the defense and aerospace industries.
The proposal is on the agenda for the EU member states’ Committee of Permanent Representatives (Coreper II) meeting on June 10. Approval of the sanctions requires unanimous consent from all 27 member states.
In January, the US first imposed sanctions on Bitcoin exchanges for links to Iran.