{"id":428668,"date":"2022-04-08T20:15:00","date_gmt":"2022-04-08T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eu-bans-providing-high-value-crypto-asset-services-to-russia\/"},"modified":"2022-04-08T20:15:00","modified_gmt":"2022-04-08T17:15:00","slug":"eu-bans-providing-high-value-crypto-asset-services-to-russia","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eu-bans-providing-high-value-crypto-asset-services-to-russia\/","title":{"rendered":"# EU bans providing &#8216;high-value crypto-asset services&#8217; to Russia"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28854e70010\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28854e70010\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/eu-bans-providing-high-value-crypto-asset-services-to-russia\/#%E2%80%9D_EU_bans_providing_%E2%80%98high-value_crypto-asset_services_to_Russia_%E2%80%9C\" >&#8221; EU bans providing &#8216;high-value crypto-asset services&#8217; to Russia &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_EU_bans_providing_%E2%80%98high-value_crypto-asset_services_to_Russia_%E2%80%9C\"><\/span>&#8221; EU bans providing &#8216;high-value crypto-asset services&#8217; to Russia &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNTg5NjE1ODktYmU1Yi00ZDcwLWFmNDMtMjRiMjczOWE2MTFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Council of the European Union has cut Russians off from certain cryptocurrency services as part of a package of restrictive measures against Russian President Vladimir Putin\u2019s \u201cbrutal aggression against Ukraine and its people.\u201d<\/p>\n<p>In a Friday announcement, the EU council <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_22_2332\">said<\/a> it would be closing potential loopholes in using digital assets for Russian entities and individuals to evade sanctions with a \u201cprohibition on providing high-value crypto-asset services\u201d to the country. The action was one of three financial measures the European Commission proposed alongside banning transactions and freezing assets connected to four Russian banks as well as a \u201cprohibition on providing advice on trusts to wealthy Russians.\u201d<\/p>\n<p>Russian Prime Minister Mikhail Mishustin claimed on Thursday that Russians hold more than $130 billion in crypto assets \u2014 an amount reportedly comparable to the country\u2019s gold holdings, valued at roughly $140 billion as of March 2022. Though it\u2019s unclear whether the Russian nationals and banks named in sanctions from both the United States and the European Union are attempting to use crypto to evade these restrictions, the narrative persists among many lawmakers and regulators. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The EU has adopted new sanctions in response to Russia\u2019s war of aggression against Ukraine. These include a ban on:<br \/> imports from Russia of coal <br \/> Russian vessels from accessing EU ports <br \/> Russian and Belarusian road transport operators<\/p>\n<p>More \u2b07\ufe0f<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/StandWithUkraine?src=hash&amp;ref_src=twsrc%5Etfw\">#StandWithUkraine<\/a><\/p>\n<p>\u2014 EU Council (@EUCouncil) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EUCouncil\/status\/1512365140796223491?ref_src=twsrc%5Etfw\">April 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe European Commission included crypto assets as part of its sanctions targeted against Russia and Belarus in response to the invasion of Ukraine announced in March. In the United States, the Treasury Department warned companies and individuals not to facilitate crypto transactions sent to certain Russian nationals and banks.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>European \u2018MiCA\u2019 regulation on digital assets: Where do we stand?<\/em><\/strong><\/p>\n<p>While lawmakers continue to hint at crypto\u2019s possible role in evading sanctions, oil and gas exports from Russia to EU member nations remain a major source of income for the country currently attacking Ukraine. The package of restrictive measures from the Council of the European Union included an import ban on Russian coal but did not mention oil or gas. The United States Congress passed a bill on Thursday to ban oil and gas imports from Russia, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/news\/us-news\/data-how-much-american-oil-comes-russia-n1291369\">represents<\/a> roughly 2% of the U.S. supply compared to an average of 20% across Europe.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/eu-bans-providing-high-value-crypto-asset-services-to-russia\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; EU bans providing &#8216;high-value crypto-asset services&#8217; to Russia &#8220; The Council of the European Union has cut Russians off from certain cryptocurrency services as part of a package of restrictive measures against Russian President Vladimir Putin\u2019s \u201cbrutal aggression against Ukraine and its people.\u201d In a Friday announcement, the EU council said it would be&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNTg5NjE1ODktYmU1Yi00ZDcwLWFmNDMtMjRiMjczOWE2MTFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,28340,72705,55229,70934,4975,71523],"class_list":["post-428668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-europe","tag-european-union","tag-law","tag-regulation","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=428668"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428669"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}