News and Analytics

A new package of sanctions against the Russian Federation and "cryptocurrency" restrictions

Oct 6, 2022
A new package of sanctions against the Russian Federation and "cryptocurrency" restrictions
0

Today, the European Union announced new sanctions against the Russian Federation. This is already the 8th list of restrictive measures. Among the new bans, Russians are prohibited from owning cryptowallets in the eurozone. Also, you cannot create accounts and store digital assets, regardless of the amount of the deposit.

In addition to these crypto restrictions, it will be prohibited to provide maritime transportation and provide technical assistance to areas, related to maritime transportation to third countries. Also, work with Russian companies in the field of IT and architecture is invalid, too.

The document has noted a ban on the export of coal, chemicals and elements for aviation to the Russian Federation. Imports from the Russian Federation of steel, wood, cosmetics, jewelry and precious metals are limited.

EU citizens can no longer hold positions in Russian companies.

The sanctions are valid on the entire territory of our country, as well as to the territories of the Zaporozhye and Kherson regions, not controlled by Ukraine. For those who will try to circumvent it, penalties are provided.

The European Commission has calculated that this set of restrictions will hit our economy and reduce revenue by €7 billion.

It is known that in April, sanctions were already introduced in the crypto-currency sphere. The Russians must not have amounts of more than €10,000 on European crypto-accounts and crypto-wallets.

Comments

Latest news

Bitcoin mining revenue lowest in two years, hash rate on the decline

Bitcoin mining revenue lowest in two years, hash rate on the decline

The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price w
It’s time for crypto fans to stop supporting cults of personality

It’s time for crypto fans to stop supporting cults of personality

From Sam Bankman-Fried to Bitboy, cryptocurrency fans have been too quick to support divas who gained notoriety on social media. It's a phenomenon that needs to end.
New York's mayor seeks balance with regulators after PoW mining moratorium

New York's mayor seeks balance with regulators after PoW mining moratorium

Adams said New York is still focused on becoming a crypto hub, but statewide efforts to reduce emissions can be combined with this goal.
Open post >
A US Senate hearing will discuss FTX, New York bans proof-of-work and FTX evaluates its assets: Hodler’s Digest, Nov. 20-26

A US Senate hearing will discuss FTX, New York bans proof-of-work and FTX evaluates its assets: Hodler’s Digest, Nov. 20-26

Open post >
Show more

Latest Dapp Articles

Show more

You may also like