Cryptocurrency Sanctions from the EU to Russia

It is a well-known fact that cryptocurrencies are becoming more and more widespread day by day and are being adopted by many people around the world. When this is the case, events in countries also cause new news about these currencies, which are seen as the technologies of the future.

As known Russia, towards the end of February, began to organize a military operation in Ukraine and was on the agenda of the whole world. After that, sanctions against Russia came from many countries and companies. After that, cryptocurrencies can also come into play here, and the Russians use these currencies to avoid sanctions. can direct had been expressed. Now, there has been a move from the European Union on this issue.

Crypto services banned in Russia

According to the news, it has introduced restrictions on private cryptocurrencies in the past weeks. European Unionannounced new sanctions against Russia, which invaded Ukraine. Among these decisions, which are stated to have been taken to close certain gaps, the Russians banning high-value cryptocurrency services was also present.

In the statements, it was stated that this decision, which is included in the sanctions package, was taken due to concerns about the possibility of Russians moving their money abroad with the help of crypto wallets to avoid other sanctions. This means that all European Union-based Cryptocurrency exchanges and wallets will be banned in the country. showed.

In these decisions, which is the fifth package of sanctions of the EU against the country, it was also stated that four banks, which make up 23% of the banking sector in Russia, were banned from transactions. Authorities also said in a statement about the decisions, “These sanctions, which will deeply affect the Russian economy, will contribute to increasing the economic pressure and it will hinder the financing of the invasion.” used the phrases.