The cryptocurrency exchange Binance has restricted a number of transactions for Russian users, the company has announced. The decision is linked to compliance with the requirements of the European Union’s new package of sanctions against Russia.
Briefly about the main points
- Binance has restricted some transactions for Russian users.
- The company attributed the changes to the implementation of a new set of EU sanctions.
- The EU is stepping up its efforts to combat the circumvention of sanctions via crypto infrastructure.
- Binance had previously suspended P2P transactions involving Russians trading in US dollars and euros.
What is known about Binance’s new restrictions
These are not the first sanctions-related restrictions the exchange has imposed on Russians. In March 2023, Binance banned Russian citizens and residents from buying and selling US dollars and euros via its P2P service, also citing EU sanctions.
How the new EU package is tightening controls on crypto services
The 21st round of sanctions The EU adopted the regulation on 23 July 2026. In the section on finance and cryptocurrencies, it prohibited EU operators from conducting transactions with 14 cryptocurrency platforms and associated companies from third countries.
The package also provides for a mechanism to impose potential restrictions on crypto services from third countries if they systematically facilitate the circumvention of sanctions. The European Commission has explained that this instrument is intended to act as a deterrent to the jurisdictions where such platforms are based.
The practical impact of Binance’s decision will depend on which services and accounts are covered by its internal rules on the implementation of sanctions.
