The European Union tightened its sanctions on Russia amid the war against Ukraine by banning all crypto asset wallets, accounts, or custody services, irrespective of the amount of the wallet.
This update bans all crypto-related services whereas previously the rules allowed Russian crypto payments to European wallets up to €10,000. According to the latest announcement, the eighth package of sanctions introduces new “import bans worth €7 billion to curb Russia’s revenues, as well as export restrictions.”
In April, the EU adopted new sanctions against Russia, including a prohibition on the provision of high-value crypto-asset services by executing the fifth package of restrictive measures against his regime.
