On October 6, 2022, European uniоn provided a new package of sanctions against Russia, the interesting thing is that all Russians got into the ban: now all cryptopayments from Russians to Europeans, and not only, providers will be banned. The European uniоn confirmed the ban on providing cryptocurrency services to Russians, tightening sanctions. This sanctions package is a response to Russia’s ongoing escalation and war against Ukraine, including the illegal annexation of Ukrainian territory based on bogus “referendums,” the mobilization of additional troops, and overt nuclear threats.
Let’s not forget that this sanctions package comes in addition to tightening existing bans.
While cryptocurrency transactions of up to 10,000 euros ($9,800) were still allowed to Russian citizens within the country, they are now banned, as are all wallets, accounts, and crypto-asset storage services.
As a result of these bans, most services that will continue to cooperate with Russian residents may also be subject to additional restrictions. Services that have not yet managed to indicate that they do not work with Russian residents are actively doing so today to avoid being hit by sanctions.
Read more about the restrictions on the official website of the EU.
