The European Commission is considering implementing a complete ban on cryptocurrency transactions with the Russian Federation. This move aims to close potential loopholes for sanctions evasion that Moscow is utilizing through digital assets outside the traditional banking system.
This is reported by Kyiv24
Tighter Restrictions for Russian Cryptocurrency Platforms
According to internal documents from the European Commission, Brussels plans to prohibit the operations of all cryptocurrency platforms established in Russia. EU representatives emphasize that including individual companies on sanctions lists does not yield the desired results, as new entities quickly emerge in their place. Special attention is drawn to the fact that Russian platforms are used for trading goods that may be involved in military actions against Ukraine.
Under the newly proposed measures, a complete ban on cooperation with Russian service providers in the field of crypto assets is planned. The use of platforms of Russian origin for the transfer and exchange of cryptocurrencies will also be prohibited. The goal of this initiative is to enhance the effectiveness of the existing sanctions regime.
Expansion of Sanction Pressure and Political Context
In October 2025, the European Union already imposed the 19th package of sanctions against Russia, which for the first time included cryptocurrency platforms and operations with digital assets. Currently, European authorities are working on preparing the 20th package of restrictions.
“For a decision to be made, the agreement of Europeans is needed,” and the conditions must be set by Moscow, not Kyiv.
At the same time, the head of the European diplomatic service, Kaia Kallas, announced the intention to propose a list of demands that Europe should present to Russia for a possible political settlement of the war against Ukraine. She emphasized the need for unity in approaches among European countries.
Previously, U.S. President Donald Trump stated that all parties to the conflict must be ready for certain concessions. The EU acknowledges the lack of a unified strategy for dialogue with Russia, but underscores the importance of coordinating actions with Ukraine and the United States. Despite this, Russia insists on ending the war on terms that are considered unacceptable in Europe.