The Council of the European Union took action to block the provision of ‘high-value’ crypto services to Russia as part of the sanctions.
The Council on Friday added yet another sanctions against Russia for its invasion of Ukraine. Accordingly, the EU has agreed to block Russians from accessing “high-value” crypto services.
The ban, one of the three financial measures included in the six-part sanctions package, aims to close possible gaps. Other clauses include a complete freeze of the assets of four Russian banks and an embargo on advisory services to wealthy Russians.
As mentioned earlier, there are some concerns that the Russians may use crypto assets to circumvent sanctions. This move of the EU represents the last step taken towards these concerns.
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