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EU Targets Russian Crypto Networks for First Time in 21st Sanctions Plan

Simon Simba
Simon Simba
Simon is a writer with five years experience in crypto and iGaming. He currently works as a freelance writer at BanklessTimes where he focuses on simplifying daily crypto developments for readers. He discovered crypto in 2022 while writing news about NFTs for a news website in the US, and has since written for two other international NFT projects, and a Web3 gaming agency.
Updated: June 10th, 2026
Editor:
Joseph Alalade
Joseph Alalade
Editor:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.

The European Union is moving to shut its doors to anyone who fought for Russia in the war against Ukraine. As part of its proposed 21st sanctions package, the European Commission wants to ban entry for all people who have served in Russia’s armed forces since the full‑scale invasion began in 2022. Commission President Ursula von der Leyen said, “Europe stays off limits for anyone who has participated in the invasion of Ukraine, as simple as that.”

The immigration restriction would extend to the entire Schengen area and would cover Russian military members, both former and active, who are linked to the war. EU authorities warn that the increased number of veterans also brings security and crime dangers, including potential links to Russian intelligence and organized crime. Several member states, led by Estonia and other Baltic countries, had also advocated for this step earlier in the year.

The idea still needs unanimous support from all 27 EU countries before it can enter into force. If they do, it would be the first time the EU has imposed a blanket Schengen ban just on the basis of past military service for a foreign country in a specific conflict.

Targeting Oil Money, Banks, and the Shadow Fleet

Alongside the travel ban, the new package goes after the financial backbone of Russia’s war effort. The Commission wants to tighten the price cap on Russian oil and delay a planned review to prevent any relief for Moscow as prices rise. It also plans to blacklist another 30 tankers in Russia’s “shadow fleet,” the aging ships used to move crude outside Western oversight, bringing the total above 660 vessels blocked from EU ports and services.

The draft places 31 Russian banks and 20 foreign cryptocurrency firms and platforms under fresh restrictions for allegedly helping Russia dodge sanctions. It would also expand export and import bans to more metals, alloys, and dual‑use components that can feed Russia’s defense industry.

For the first time, EU officials are explicitly targeting crypto networks in a Russia package. The Commission proposes a “full third‑country ban” on crypto‑asset services that knowingly assist in Russian sanctions evasion, aiming to pressure jurisdictions that host such platforms. This measure reflects growing concern that digital assets provide Moscow with back channels to move value despite banking curbs.

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Simon Simba
Simon is a writer with five years experience in crypto and iGaming. He currently works as a freelance writer at BanklessTimes where he focuses on simplifying daily crypto developments for readers. He discovered crypto in 2022 while writing news about NFTs for a news website in the US, and has since written for two other international NFT projects, and a Web3 gaming agency.