Europe Strengthens its Sanctions Against Russian Crypto Users

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The European Union (EU) has announced the introduction of a new package of sanctions against Russia, targeting this time the country’s financial industry. Now, Russian citizens will be blocked from accessing some crypto services.

According to Western media, “a ban on the provision of crypto services to Russians” is one of the three most important financial sanctions against the country.

The topic of the need to tighten sanctions against Russia was raised by the EU Council at a regular government meeting last April 8. Participating politicians noted that strengthening the previous measures is necessary to block all possible ways that Russian citizens can use to evade existing sanctions.

All Russia residents will be included in the “black list” of crypto platforms controlled by the European regulator.

Many experts have already reacted to the statement of the EU Council, noting the strengthening of sanctions may be associated with the recent statement by Russian Prime Minister Mikhail Mishustin, who has tried to reassure the public by saying that the Russians own a large stock of digital assets, by the way, worth $130 billion.

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