EU sanctions on Russia-linked crypto and energy sectors

The European Union adopted its 21st sanctions package aimed at curbing Russia’s war economy. The package broadened the ban on Belarusian nationals and residents, prohibiting them from owning or managing any MiCA‑regulated crypto‑asset service providers, and extended restrictions to 14 foreign crypto‑trading platforms and introduced a new legal tool to block crypto services used for sanction evasion. Additional measures included a six‑month ban on the Kulevi oil refinery in Georgia and a Latvian law banning certain Russian and Belarusian consumer‑goods imports.

Later the same day, the package added the Russian energy firm Inter RAO and its Cuciurgan (MGRES) power plant in Moldova to the sanctions list, alongside designations linked to the cryptocurrency network A7 and its owner Ilan Șor. Moldova announced it will stop purchasing electricity from MGRES in 2024 and will activate a new transmission line bypassing the plant. The expanded sanctions now cover 218 entities, 250 individuals and more than 660 companies.