EU Bans Crypto Companies for Russians in New Sanctions Over Ukraine Escalation
An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex Ukrainian territories.
EU Council Adopts Full Ban on Crypto Wallet and Custody Services for Russian Persons
The Council of the European Union announced new sanctions against Russia on the backdrop of the deepening military conflict in Ukraine. The penalties, expected to hurt the Russian government and economy, come after Moscow took steps to annex the Ukrainian regions of Donetsk, Luhansk, Zaporizhzhia, and Kherson.
In a statement, the EU’s High Representative for Foreign Affairs and Security Policy Josep Borrell emphasized that the sanctions are a response to the latest escalation with the “fake referenda” in these four oblasts. Russian individuals and entities that have played a role in their organization will be specifically targeted.
Other Russian citizens and businesses are also going to take a hit, including those that deal with cryptocurrencies. The new measures include a full ban on the provision of wallet, account, or custody services for crypto assets to Russian persons and residents. That’s regardless of the value of these assets, according to the eighth package of sanctions imposed by Brussels.
This spring, when the EU approved its fifth round of such measures, the Council prohibited only the provision of “high-value” crypto-asset services to Russians and organizations registered in their country. The ban applied to digital funds exceeding €10,000 (close to $11,000 at the time).
New European Sanctions to Hit Russian Imports and Exports
While the earlier restrictions were meant to limit the transfer of wealth through digital assets and close other loopholes in the crypto space, a recent report revealed that pro-Russian groups have been actively using cryptocurrency, often in small transactions, to fund paramilitary operations in Ukraine. According to the research, they have raised $400,000 in crypto since the start of the invasion in late February. Russian authorities have also been working to allow businesses to employ crypto payments for international settlements.
With the latest move, the EU also bans the provision of IT consultancy and legal advisory services to Russia as well as architectural and engineering services. Russian imports and exports have been targeted, too, including the maritime transport of crude oil and petroleum products to third countries. The provision of related services will be allowed only if these have been purchased at or below a pre-established price cap, which is yet to be determined.
Among the other measures is a ban on EU nationals to hold any posts on the governing bodies of some Russian state-owned or government-controlled entities. The Council also decided to broaden the criteria under which persons can be designated as facilitating the circumvention of restrictions imposed by the European Union. The European Commission, the executive body in Brussels, welcomed the latest sanctions package.
Do you think the new EU sanctions will significantly limit access to cryptocurrencies for Russians? Share your thoughts on the subject in the comments section below.
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The CIA and The ODNIgov are using The NSA remote access surveillance technology to hack into my computer, stealing my GarageBand files off my computer, corrupting the files by making the level mixing too loud and out of time and reuploading the songs to my SoundCloud without my permission with their self imposed, unfounded warrant to hack into my computer because they're trying to force me to have sex with them, but not because they actually believe there's a crime happening inside my computer — their alibi is they supposedly need to investigate my computer because I'm dealing drugs, but that's just a PR public relations cover story so they can have an excuse to ruin my songs because they're jealous of me for turning all of them into the police for being rapists. #UnitedNationsHumanRightsCouncil #UNPGA #HumanRightsWatch
The FBI and these same people hacked into my computer with the NSA surveillance technology and changed the password to my computer and now I can't log into my computer anymore and I know why they did it is because I turned them into the police for being rapists — now I can't log into my computer — you need to get me my computer back.
Global Rape Whistle
Whistleblower. The CIA hacked into my computer, using The NSA remote viewing technology, to steal my GarageBand files and ruined my songs and hacked into my SoundCloud and reuploaded the broken versions of my songs, against my will, without my permission, so they could stop me from being famous because I refuse to have sex with them.
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The longer it takes me to get my computer back, the bigger the scandal is gonna be that The CIA and The FBI and The NSA and The Director Of National Intelligence are all serial rapists.
But if it's not true, then why won't they come on camera on live television to be interrogated with the lie detector machine? I know because I'm telepathic.
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@gio_wineart 👏👏👏👏👏👏👏@ninolopresti__64 👏👏👏👏👏👏👏👏Capeggiati dal presidente emiliano e spalleggiati dai giornali amici, quelli che consideravano gli stranieri risorse irrinunciabili, e salivano sulle navi delle Ong per farli sbarcare, protestano per l’invasione delle città. Maurizio BELPIETRO de " La Verità.it " #laverità #laveritaweb #migrazioni #Migranti #migranti #clandestini #cladestini #SBARCHI #sbarchi #litalialasciatasola #unioneeuropea #solo #promesse #nonmantenute @europeancommission @eucouncil @europeanparliament @giorgiameloni @palazzo_chigi @_papa_francesco_official @pontifex_ita
Indonesian military officials lied to public when asked if TNI had dropped bombs in the Nduga region of West Papua during an interview with ABC reporter, Ann Baker @abcnews @ABCPacific
TNI officials also stated that the recent video by Capt Philip Mehrtens is fake or hoax claiming that Mr Mehrtens was forced to make the statement. Today's video is the key evidence that Indonesian soldiers TNI did dropped bombs in Nduga Regency including others areas in the central highlands region of West Papua. We demand United Nations Security Council to intervene immediately in this deadly situation where many innocent civilians have now become victims of this Liberation war between TPNPB-OPM or West Papua National Liberation Army and TNI-POLRI of Indonesia.
When the guns fall silent and the true scale of devastation is revealed, will the @EUCouncil
and all European leaders be able to say they did all they could to stop the bloodshed?
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Whistleblower. The CIA hacked into my computer, using The NSA remote viewing technology, to steal my GarageBand files and ruined my songs and hacked into my SoundCloud and reuploaded the broken versions of my songs, against my will, without my permission, so they could stop me from being famous because I refuse to have sex with them.
@gio_wineart 👏👏👏👏👏👏👏@ninolopresti__64 👏👏👏👏👏👏👏👏Capeggiati dal presidente emiliano e spalleggiati dai giornali amici, quelli che consideravano gli stranieri risorse irrinunciabili, e salivano sulle navi delle Ong per farli sbarcare, protestano per l’invasione delle città. Maurizio BELPIETRO de " La Verità.it " #laverità #laveritaweb #migrazioni #Migranti #migranti #clandestini #cladestini #SBARCHI #sbarchi #litalialasciatasola #unioneeuropea #solo #promesse #nonmantenute @europeancommission @eucouncil @europeanparliament @giorgiameloni @palazzo_chigi @_papa_francesco_official @pontifex_ita
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@ukraine .@ukraine .@rosatom @rosatomglobal @sputnikkurd .@sputnikint ukraine. seriously. focus. on. the. russian w h a t fo r . russia. seriously. explain ukraine all west does there is ukraine empowered by west but not west near it init. eithercase no appeasement for this criminal war monstrosity
#independent #notmywar #on #kurks #ukraine #uk #planning #risks #ahead
.@peace .@nato .@ukraine…