EU High Representative for Foreign Affairs Kaja Kallas announced that the EU plans to impose restrictions on 11 crypto platforms in the next, 21st, sanctions package. European officials believe these services help Russian authorities and businesses circumvent international sanctions.

According to Kallas, the new measures will affect not only crypto services but also other channels used by Russian government agencies and companies to circumvent existing restrictions.

"We will also tighten the ban on the provision of cryptocurrency-related services for a number of third countries, expand the sanctions lists, and ban transactions with 11 cryptocurrency platforms," the EU's top diplomat said, without specifying the names of the platforms.

According to European Commission President Ursula von der Leyen, the new sanctions are intended to increase pressure on entities that help Russia maintain access to international financial transactions.

In addition to crypto services, officials have made it clear that the new package will affect traditional finance. Approximately 90 Russian banks could be subject to additional restrictions, with 31 of them facing a complete ban on operations.

Earlier, in its 20th sanctions package, the EU imposed sanctions on Russian-registered providers and platforms that allow the transfer and exchange of cryptocurrencies. The ban took effect on May 24.

The EU is preparing sanctions against 11 crypto platforms working with Russia.