On June 9, Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy, announced that the EU plans to impose trading bans on 11 cryptocurrency platforms under its 21st sanctions package. The reason is that the EU has determined these platforms helped Russian authorities and companies evade existing international sanctions. In her statement, Kallas did not disclose the specific names of the 11 platforms.
Four confirmed measures in the 21st sanctions package
According to Kallas’s official statement, the 21st sanctions package includes the following confirmed specific measures:
11 cryptocurrency platforms: Any party is prohibited from engaging in transactions with the above platforms; the specific list of platforms was still not published as of June 9
Restrictions on crypto services in third countries: Tightening existing bans on crypto-related services provided by certain third countries
Expansion of the sanctions list: Expanding the list of entities covered by the EU’s existing sanctions
Russian financial institutions: According to an official statement, about 90 Russian banks face additional restrictions, including sanctions measures that completely ban operations for 31 of them
The official legal text of the 21st sanctions package, the full list of entities, and the effective date have not yet been published.
Current status of the 20th sanctions package: took effect on May 24
As background, the EU’s 20th sanctions package officially took effect on May 24, 2026. It includes sanction language targeting service providers that are registered in Russia and allow cryptocurrency transfers and trading. Building on the 20th package, the 21st package will further expand the scope of restrictions, covering more crypto platforms and adding limitations on services in third countries.
Frequently asked questions
Why did Kallas not disclose the names of the 11 sanctioned platforms?
The EU typically publishes the full list of sanctioned entities only after the sanctions package has been formally adopted and published in the Official Journal of the European Union. The official legal text of the 21st sanctions package has not yet been approved, so the list is not available to the public at this time.
What are the specific differences between the 21st and 20th sanctions packages?
The 20th sanctions package (took effect on May 24, 2026) targets crypto service providers operating in Russia. The 21st package expands coverage to 11 specified crypto platforms, certain third-country providers, and adds additional financial measures targeting about 90 Russian banks.
When will the 21st sanctions package formally take effect?
As of June 9, 2026, the EU has not announced the formal adoption date or the effective date of the 21st sanctions package. Official documents and the list of sanctioned entities have not been released.
