Anti-Russian sanctions: EU prohibits all crypto transactions with Russia

144 million Russians sanctioned? – Obviously, there was still not enough penalties from theEuropean Union towards the Russia. A package of 8 new sanctions is imposed on the Slavic country. Among them : the ban formal of any exchange of cryptocurrencies, from or to Russian territory.

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European Union Cuts Crypto Trade Bridges With Russia

L’European Union sinks ever deeper into its opposition, which has become almost frontal, with the Russia. While the difficulties linked to the lack of Russian gas are just beginning to be felt, the European Commission “welcomes” the adoption of a new lot of “severe penalties” against the nation of Vladimir Putin.

In a communicated published on October 6, 2022, the Commission details the 8 penalties taken by the EU to punish Moscow’s intervention in Ukraine. And, among the reprisals of the financial category, is a banishment pure and simple crypto transactions.

So far, in accordance with previous sanctions, cryptocurrency payments between Russian territory and the European Union were already limited to 10,000 euros maximum. Now it is no ! And from the 1st satoshi then.

“Existing prohibitions on cryptocurrencies have been reinforced by prohibiting all crypto wallets, accounts or custody services, regardless of the amount in the wallet (…). »

It must be said that, precisely, Russia is in the midst of finalizing a law authorizing international crypto-payments. But if the EU thought undermine exports Russians, it failed. The China has, in fact, shown itself to be very interested in retrieve these exports intended for Europe, even if it means paying for them via cryptocurrencies precisely.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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