The EU announced that ‘crypto assets’ were included among the sanctions. Sanctions against Russia and Belarus have been both expanded and clarified to cover cryptocurrencies. For details, continue reading Kriptokoin.com.
It was announced that cryptocurrencies are included in the Russian sanctions
According to the European Commission’s statement today, crypto money activity will be considered within the scope of the sanctions against Russia and Belarus. The European Union announced today that its sanctions on individuals in Russia and Belarus for their complicity in Russia’s invasion of Ukraine also cover crypto assets. The statement was included in a press release by the European Commission detailing the expansion of existing sanctions against these countries.
The disclosure was apparently made to alleviate suspicions brought by economic sanctions that Russian and Belarusian individuals and institutions openly contain cryptocurrencies or other digital assets. According to the press release, the European Commission, writing today’s statement, made it clear that they did:
Along with the common understanding that loans and borrowings, including crypto-assets, can be made by any means, ‘transferable securities’ to explicitly include crypto-assets. ‘, so that appropriate restrictions are applied in place.
The move came amid broader concerns that both oligarchs and ordinary Russian citizens might turn to cryptocurrencies to evade such sanctions. Today’s statement makes it clear that such activity would be considered a violation of sanctions.
Belarus to face similar sanctions with Russia
Press release, position on crypto assets to Belarus, which aided Russia’s invasion of Ukraine by allowing tens of thousands of Russian troops to be deployed before they are moved to Ukrainian soil announced that it was extended. Last week, the EU imposed new sanctions on Belarus, which was previously under sanctions due to the increasingly repressive government of President Alexander Lukashenko.
Extended sanctions will impose stricter restrictions on access to SWIFT in Belarus “similar to those in the Russian regime”. They will also prohibit transactions with the Central Bank of Belarus on reserves or assets, prohibit the listing of Belarusian state entities on EU exchanges, and “prohibit the issuance of euro notes to Belarus”.
14 160 people, including the Russian oligarch, as well as their families, were added to the EU’s sanctions list with today’s action. In total, restrictive economic measures were applied to 862 individuals and 53 organizations in response to the Ukraine crisis. Meanwhile, Ukraine has received tens of millions of dollars in crypto donations since the invasion began (early donations even predate the invasion), accepting donations in Bitcoin, Ethereum, Polkadot, Dogecoin, Solana, and other cryptocurrencies from around the world.
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