Full ban proposed on crypto-asset services in third countries, new Russian banks added to list - Von der Leyen
The European Commission has proposed new financial and cryptocurrency sanctions against Russia, including a first-ever total ban on crypto-asset services in third countries and the expansion of the banking blacklist.
European Commission President Ursula von der Leyen announced the measures on Tuesday in Brussels as part of the upcoming 21st sanctions package against Russia.
She noted that the financial restrictions will target dozens of additional institutions, expanding restrictions to 31 Russian banks. The measures will also apply to 20 financial entities in third countries, covering crypto firms, digital platforms, and oil traders that have assisted sanctioned Russian entities and individuals or helped circumvent existing EU measures.
Furthermore, the proposed total ban on crypto-asset services in third countries is intended to serve as a powerful deterrent against offshore hosting platforms that currently facilitate the evasion of sanctions by Russia.