The European Commission has presented its 21st sanctions package against Russia, which includes measures targeting financial services, crypto assets, trade, and energy.
The financial section involves freezing assets of nearly 90 banks and banning transactions for over 30 credit institutions in Russia and third countries.
The package places special emphasis on the crypto sector, proposing to include 11 crypto platforms that the EU believes facilitate sanctions evasion.
European Commission President Ursula von der Leyen announced plans to establish a mechanism for a complete ban on crypto services from third countries if they assist in lifting restrictions.
The document also includes a six-month freeze on the existing price cap for Russian oil at $44.1 per barrel, along with restrictions against shadow fleets, traders, and refineries from third countries.
Additionally, for the first time, import restrictions will apply to fish products and high-performance metal alloys that are critical for the defense and aerospace industries.
The proposal is set to be discussed at the meeting of the Committee of Permanent Representatives of EU countries (Coreper II) on June 10. A unanimous decision from all 27 member states is required to approve the sanctions.
It is worth noting that in January, the U.S. imposed sanctions on bitcoin exchanges for their connections to Iran.