The Council of the EU has today agreed to implement a full ban on the provision of crypto services to Russian persons and residents as part of the Western’s new sanctions package against Russia following its most recent annexation of Donetsk, Luhansk, Zaporizhzhia, and Kherson regions in Ukraine. In a statement, the Council of the EU announced it would implement a “full ban on the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets.”
Moreover, the new package includes the prohibition to provide architectural and engineering services, IT consultancy services, and legal advisory services to Russia.
Josep Borrell, High Representative for Foreign Affairs and Security Policy said: “This new sanctions package against Russia is proof of our determination to stop Putin’s war machine and respond to his latest escalation with fake ‘referenda’ and illegal annexation of Ukrainian territories.”
