EU Latest Sanctions Package Forbids Russia From Making Crypto Payments

Restrictions on cryptocurrency transfers from Russian accounts, wallets, or other holding services to European ones have been tightened by the European Union.

Since Russia’s invasion of Ukraine in February, the EU has imposed eight rounds of sanctions against it. In the eighth round, the ceiling of €10,000 was changed to a ban “regardless of the value of the wallet.”

Russia’s war

The EU has introduced fresh measures that include import prohibitions worth up to €7 billion and create the framework for an oil price cap.

In response to the outcomes of the “fake referenda” held in the seized Ukrainian regions of Donetsk, Kherson, Luhansk, and Zaporizhzhia, which MEPs deemed “null and void,” policymakers in the European institutions pushed for the implementation of more severe sanctions on Russia.

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