EU Crypto ban in the latest sanctions against Russia – Katoch Tubes

EU take side of Ukraine viA Crypto ban

Russia Ukraine War

Russia invaded Ukraine in Feb 2022. To prevent the situation from worsening, US & EU imposed multiple sanctions against Russia

The Crypto Ban

In the latest news, EU has imposed crypto ban on Russia & all its citizens. No Russian will be allowed to trade cryptocurrency on the exchanges.

Oil Price Cap

Apart from crypto ban, EU also agreed to introduce a price cap on Russian oil transported by European operators. A move to reduce Moscow's revenue

Ban on imports

Additionally EU has banned imports of paper, cigarettes, cosmetic products and non-gold jewellery, from Russia.

Level 8 sanction in a row

The announcement marks the eighth round of sanctions introduced by the EU in response to Russia’s  Feb. 24 invasion of Ukraine.

Will Crypto ban work?

Of all the sanctions, crypto ban will be the most difficult to execute esp. when you have decentralized exchanges and crypto wallets

Response from Russia

Despite the sanctions, there are no sign of Russia slowing down its war against Ukraine. Moreover, it has allowed imports payments in cryptos

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