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The EU has taken further sanctions against Russia

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As part of the latest sanctions package restricting measures against the Russian Federation for its military aggression in Ukraine, the Council of the European Union is trying to cut off Russians from certain cryptocurrency services.

The EU Council’s communication on Friday stated that sanctions included “closing potential gaps in the use of digital assets for Russian entities and individuals seeking to avoid sanctions”. In particular, it states that this is a “ban on the provision of high-value crypto services” in connection with Russia.

In addition to this step, the EU Council has proposed a freeze on assets associated with four leading Russian banks, as well as a ban on providing trusteeship advice to rich Russians.

The European Union did so just a day after Russian Prime Minister Mikhail Mishustin said the Russians had more than $ 130 billion in cryptocurrencies, an equivalent almost equal to their estimated gold reserves.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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