EU Targets Garantex: $28M Frozen as EU Expands Sanctions on Russia
Russian crypto exchange Garantex is facing operational restrictions, with approximately 28 million in users' accounts affected after the latest EU sanctions package announced on February 26, 2025. The EU has been sanctioning Russia throughout its ongoing military conflict with Ukraine. The latest measures focus primarily on individuals and organizations with close ties to Russian financial institutions. Garantex was included in the sanctions due to its association with previously sanctioned Russian banks, such as Sberbank, Alfa-Bank, and T-Bank.