EU Blocks all International Russian Crypto Transactions

EU Blocks all International Russian Crypto Transactions

The newest sanctions package that the European Union has submitted against Russia includes an all out ban on local Russian crypto transactions to international wallets. The official statement reveals the EU will be “banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.

The European Commission commented that this package, in a set of previous major boycotts, is a direct response to the “illegal war” in Ukraine, the illicit annexation of the country’s territories by a the bogus referendum, the mobilization of troops many of which have never served in the military, and the latest threats of nuclear war.

Among other major packages is the import ban reaching $7 billion, the G7 oil cap price, and measures to punish infringement actors who aid in the circumvention of the EU’s decrees.

Measures have been taken to sanction individuals and businesses, as well as to further the export restrictions. In March the Union banned seven Russian banks from the SWIFT systems. Several of these sanctions were extended to the Kherson and Zaporizhzhia zones.

This is considered yet another important counter war initiative, and the EU’s newest direct measure against the invasion. More, large scale, packages are expected to be heading in Russia’s direction if Russia continues with invasion.

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