European Union: Council of the European Union adopted 20th package of sanctions against Russia including prohibition on cryptocurrency transactions

On 23 April 2026, the Council of the European Union adopted its 20th package of sanctions against Russia. The sanctions package introduces measures concerning financial services and crypto-related activities. It establishes a transaction ban on 20 Russian banks, as well as on four financial institutions in third countries identified in connection with the circumvention of EU sanctions or with the Russian System for Transfer of Financial Messages. The measures also address the use of cryptocurrencies in international transactions. A Kyrgyz entity operating an exchange where the state-backed stablecoin A7A5 is traded is designated. In addition, a sectoral ban is introduced on providers and platforms established in Russia that enable the transfer or exchange of crypto assets. Transactions involving the cryptocurrency RUBx are prohibited, and EU support for the development of the digital rouble is restricted. The package further prohibits netting transactions with Russian counterparts.