EU bans Belarusians from crypto exchange ownership as part of the bloc’s 21st sanctions package against Russia.
The measures extend transaction restrictions to 14 crypto service platforms operating across six countries, including Belarus.
The European Union says the platforms support channels that help Russia avoid financial restrictions linked to its war in Ukraine. The package also gives the bloc authority to prohibit dealings with crypto providers across an entire third country when that country assists Russian sanctions evasion.
Belarus Crypto Platforms Face Transaction Ban
The expanded transaction ban covers crypto-related platforms in Belarus, Georgia, Panama, the United Arab Emirates, the Marshall Islands and Kyrgyzstan. European companies and citizens are barred from conducting transactions with the listed services.
Belarus plays a central role in the measures because it hosts platforms that the EU says Russia uses to move funds around existing restrictions. The bloc aims to prevent Belarus from serving as an alternative route for Russian financial activity.
The package also freezes assets and blocks funding access for 94 Russian banks and major financial institutions. Transaction restrictions now apply to an additional 33 Russian credit and financial institutions.
EU foreign policy chief Kaja Kallas said on X that the measures target more than 100 banks and crypto operators. They also cover over 40 shadow-fleet vessels and several oil refineries in Russia and Belarus.
Belarus operates the Naftan and Mozyr oil refineries. Naftan has remained under EU sanctions since summer 2022. The bloc also imposed import bans on goods generating substantial revenue for Belarus and export controls on items linked to military production.
EU Gains Country-Wide Crypto Ban Power
The new rules allow the EU to block transactions between European companies or citizens and every crypto provider in a country helping Russia evade sanctions.
The bloc introduced the country-wide authority after observing operators replace sanctioned platforms with new services. TRM Labs found that operators linked to Garantex launched a similar exchange called Grinex after authorities seized Garantex in March 2025.
The EU said individual listings were ineffective because “any further listing of individual crypto asset service providers is therefore likely to result in the set-up of new ones to circumvent those listings.”
A7A5 Token Linked Garantex and Grinex
Old Vector, a Kyrgyzstan-registered company, created the A7A5 stablecoin on the Tron and Ethereum blockchains. The token allowed users to transfer balances from Garantex to Grinex.
The EU had already banned A7A5 under an earlier sanctions package. The latest measures also fix the Russian oil price cap at $44 per barrel for one year, preventing its automatic increase to $58.
The sanctions package broadens the EU’s effort to restrict crypto, banking, oil and trade routes connected to Russia and Belarus under the new framework.
