Russia: The European Union takes a new restrictive measure

Sanctions continue to rain down in Russia due to the invasion of Ukraine! After many countries have decided to apply various restrictions against the country, it is the turn of the European Union (EU) to adopt new sanctions against Russian traders.

A new restrictive measure against Russia

The EU had already adopted a series of sanctions against Russia because of the war provoked in Ukraine. But these sanctions were clearly not enough to bend the country’s president to put an end to the ongoing war. For this, the EU has decided to move up a gear by adopting a new restrictive measure.

According to the official journal of the institution, deposits in cryptocurrency wallets in Russia are now capped at a certain threshold not to exceed. “Given the seriousness of the situation, and in response to Russia’s military aggression against Ukraine, it is appropriate to introduce new restrictive measures”, announced the EU in its newspaper. “The ban on deposits to cryptocurrency wallets should be extended, as well as the bans on the export of euro-denominated banknotes and the sale of euro-denominated securities should be extended to all official state currencies. members “.

So now the new legislation prohibits companies from providing Russian nationals or entities established in Russia with cryptocurrency wallet services if the portfolio content exceeds €10,000, or about $10,876.

Determined to enforce the sanctions

The United States says it is ready to do anything to enforce the new provisions against Russia. Authorities have issued warnings to companies that do not comply with the sanctions.

Last month, U.S. Assistant Treasury Secretary Wally Adeyemo said U.S. officials were on the lookout for any entity trying to help Russia evade sanctions. “We paid a lot of attention to that,” he said. Any company, any country, any individual that helps Russia evade our sanctions will be subject to our laws and will be held liableincluding cryptocurrency companies”.

Mr. Adeyemo also added: “We haven’t seen so far that Russia has been able to evade our sanctions in any meaningful way, but we know the Russians are trying to do that and we know they’re going to try to use any means possible, both cryptocurrencies, but also shell companies and also any other way they can find”.

Accompanied by the United States, the European Union has decided to take a new restrictive measure against Russia. From now on, Russian traders will no longer be able to benefit from the services of the companies for an amount greater than €10,000, or $10,876. The United States says it wants to pay particular attention to this.

Source: The Daily Hodl

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