The Council of the European Union has approved its 21st package of sanctions against Russia, introducing restrictions on cryptocurrency platforms operating in Georgia as part of a broader effort to curb the Kremlin’s ability to finance its war.
The new sanctions package includes transaction bans on 14 cryptocurrency service providers operating in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus.
The EU has not identified the platforms affected or specified how many of the 14 operate in Georgia.
The bloc said the measures are intended to disrupt financial channels used by Russia to circumvent existing sanctions. The package also introduces a new legal mechanism allowing the EU to impose a complete ban on crypto service providers in third countries if they are found to be involved in sanctioned transactions or other illicit activities.
Overall, the 21st sanctions package targets 218 additional individuals and entities. It also includes measures against 94 banks and major financial institutions, vessels linked to Russia’s “shadow fleet,” and 56 entities connected to the country’s military-industrial complex.
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