Overview
- The European Commission’s draft would prohibit all crypto transactions connected to Russia, including dealings with Russia-based providers and the digital ruble.
- The plan targets ruble-pegged stablecoins and successor platforms replacing sanctioned services, shifting from entity-by-entity listings to an anti-circumvention approach.
- Twenty additional Russian regional banks would be added to the EU sanctions list to further restrict cross‑border financial flows.
- The package introduces the EU’s first anti-circumvention export ban on certain dual‑use goods to Kyrgyzstan to curb re‑exports into Russia.
- Adoption requires unanimous approval by all 27 EU states, with three capitals expressing reservations that cast doubt on the Commission’s initial goal of approval before February 24.