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EU’s Latest Sanctions Against Russia Target Cryptocurrency Deposits

By Koos Couvée

The European Union banned cryptocurrency exchanges and other companies from providing high-value deposit services to Russian citizens, residents and firms Friday as part of a new tranche of sanctions imposed in response to Russia's war against Ukraine. Amid growing evidence of widespread Russian atrocities, the European Council, which represents the bloc's 27 national governments, announced a fifth package of restrictions against Russia, including "targeted economic measures intended to strengthen existing measures and close loopholes." During Russia's latest attempt to seize Ukrainian territory, the EU has tried to significantly limit incoming funds from Russia and Belarus and restrict their businesses and...

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