EU expands sanctions prohibiting Belarusian ownership of MiCA‑regulated crypto firms

The European Union adopted its 21st sanctions package targeting Russia’s war economy. The package extends the ban on Belarusian nationals and residents from owning, controlling, or managing any crypto‑asset service providers regulated under the Markets in Crypto‑Assets (MiCA) framework, effective 25 August 2026. This expands an earlier restriction that covered only wallet‑ and custody‑service providers to all MiCA‑defined activities, including trading platforms, exchanges, order execution, asset transfers, investment advice and portfolio management.

The sanctions also target 14 foreign crypto platforms accused of helping Russia evade existing measures and introduce a new legal mechanism that allows the EU to prohibit transactions with any crypto provider operating in a third country deemed to facilitate sanctions evasion. In parallel, the EU placed 33 additional Russian banks under transaction bans, added 94 financial institutions to its sanctions list, and froze assets of numerous individuals and entities.

Other components of the package include a six‑month transaction ban on the Kulevi oil refinery in Georgia, and a national law in Latvia that bans imports of certain Russian and Belarusian consumer goods such as books, newspapers and video games. Together, these measures aim to cut off financial and logistical support for Russia’s war effort.