EU Sanctions Target Crypto Firms Facilitating Russian Oil Trades

The European Union's 21st sanctions package targets cryptocurrency operators that help facilitate Russian oil transactions, aiming to close a loophole that lets Moscow use digital assets to bypass financial restrictions on petroleum trade. The move extends digital asset regulation into energy geopolitics, exposing exchanges and over-the-counter trading desks to compliance risk if they have handled deals tied to sanctioned Russian energy. Separately, Russia's July crude output rebounded to more than 9 million barrels per day, up from roughly 8.86 million bpd in June when drone strikes had cut production. (CryptoBriefing)