EU Announces Largest Russia Sanctions Package in Two Years, Banning Crypto Services and Digital Ruble

Gate News message, April 27 — The European Union has unveiled its most comprehensive sanctions against Russia in two years, imposing a sweeping industry ban on cryptocurrency service providers and platforms established in Russia. The measures also prohibit Russia’s central bank digital currency (CBDC), the RUBx stablecoin, and related support infrastructure.

The sanctions target 20 Russian banks and four third-country financial institutions linked to Russia’s SPFS settlement network. Kyrgyzstan-based exchange TengriCoin (Meer.kg) has also been added to the sanctions list. According to blockchain analytics firm Chainalysis, the stablecoin A7A5 within the sanctioned ecosystem has processed approximately $119.7 billion in cumulative transactions, serving as a settlement channel for sanctioned Russian entities to access the global financial system.

EU residents are now prohibited from trading with cryptocurrency and DeFi platforms based in Russia and Belarus. Additionally, no MiCA-regulated crypto services may be provided to individuals and entities in Belarus.