- Linked to Russia? Blocked!
- What’s Included in the New Sanctions
- How Users and Businesses Are Reacting
- Real-World Examples and Consequences
In early November 2025, the European Union continued tightening sanctions against Russia, introducing new tools to restrict financial transactions and cryptocurrency circulation. This followed the already active 19th sanctions package, aimed at curbing circumvention schemes and strengthening oversight of Russian financial flows amid the ongoing confrontation between Brussels and Moscow.
The latest measures specifically target crypto services, banks in third countries, and several payment systems operating in jurisdictions linked to Russia. Both major financial institutions and smaller crypto market players have been affected, limiting access to banking services and cross-border transactions for many Russian citizens and residents living in the EU.
Linked to Russia? Blocked!
Realizing that cryptocurrencies and tokens can be used to bypass traditional sanctions, the EU has stepped up monitoring and imposed new prohibitions on certain types of transactions.
According to official EU documents, the new restrictions are designed to create a more transparent and closed financial system that eliminates loopholes for sanction evasion.
The focus of this latest wave is on banning access to crypto-related services for Russian citizens and residents of certain countries whose financial activities are connected to Russia. This includes crypto wallets, payment processors, and stablecoins previously used for settlements or trade related to banned goods. The overarching goal is to strengthen the resilience of the European financial system against long-term sanctions risks.
What’s Included in the New Sanctions
1. Ban on crypto services for Russian residents and nationals of certain countries:
European exchanges and payment providers are now required to block users whose activity could be linked to sanctions evasion. This includes freezing transfers, restricting custody and exchange services, and tightening KYC/AML requirements.
2. Restrictions on the ruble-backed stablecoin and related digital assets:
New measures limit the issuance and use of digital tokens tied to the Russian financial system, making transactions both within and across the EU more complicated.
3. Expansion of sanctions in the banking sector and to third-country participants:
Beyond direct prohibitions on Russian banks, sanctions now also cover foreign banks that facilitate Russia-related operations. This leads to extra compliance checks and delays in cross-border payments.
How Users and Businesses Are Reacting
Russian citizens and EU residents with pending residence permits or temporary status are finding themselves unexpectedly locked out of their accounts or services. Some suspensions have occurred amid platform migrations or restructuring of crypto and online banking services. Media outlets have reported multiple cases of account freezes and repeated verification requests during such transitions.
For crypto exchanges and neobanks, the new rules mean tougher compliance procedures, customer base reviews, and enhanced risk analytics—all of which can cause delays or temporary service disruptions, especially for clients with sanctions-linked citizenship or residency.
Real-World Examples and Consequences
During the migration of European crypto exchange divisions, some users faced reverification requirements, resulting in temporary account restrictions. Notably, cases involving Bybit EU and Revolut highlighted how new regulatory demands triggered additional checks when users switched jurisdictions.
One Bybit EU user, according to OhMySwift founder Andrey Avramenko, held an EU residence permit and had verified his account with Bybit NL (Netherlands). After the platform’s merger with Bybit EU, however, his account verification was denied:
“I live in Europe, everything’s official and transparent. Recently Bybit NL migrated to Bybit EU, and they asked me to redo KYC. […] Using the exact same documents as before, they refused,” the user wrote.
Support explained the decision was based on “regulatory standards and potential risks.”
The account freezes and access restrictions imposed by Revolut on certain Russian citizens and related categories of residents highlight the growing power of sanctions and their impact on everyday financial activity. For users, this means the need to plan cash flows more carefully and possibly reallocate assets across different platforms.
According to Mediazona sources, the UK-based online bank Revolut has begun closing the accounts of Russian nationals living in the EU, citing new regulatory restrictions. Previously, Revolut allowed Russian citizens with EU residence permits or long-term type D visas to open accounts. However, on November 1, affected users received two consecutive emails—the first requesting them to update their personal information, and just a few minutes later, the second informing them that their accounts had been frozen.
Previously, Revolut allowed Russian citizens with EU residence permits or long-term D-type visas to open accounts. But on November 1, such users received two consecutive emails: one requesting updated information, followed minutes later by a notice of account suspension.
Former Meduza journalist Pyotr Sapozhnikov shared a similar story:
“A couple of hours ago, Revolut blocked my card completely—so tightly that I can’t even call a taxi. I can’t withdraw cash, make payments, or send money to other users. All because my residence permit is still being processed,” he wrote.
“Revolut just blocked my card completely — I can’t withdraw cash, make payments, or even call a taxi. All because my residence permit is still being processed.”
Broader Context: The Expanding Reach of EU Sanctions
The 19th EU sanctions package, adopted in fall 2025, is one of the most extensive in recent years. It goes far beyond trade and financial restrictions, introducing tough measures on crypto infrastructure, including stablecoins and exchange platforms. The aim is clear: to reduce Russia’s global payment capacity and make sanction circumvention significantly harder.
Analysts and media reports note the growing role of cryptocurrencies in cross-border trade and sanctions evasion schemes. While experts believe the short-term impact on real crypto volumes will be moderate, they expect a gradual tightening of administrative pressure and stricter compliance requirements in the long run.
