{"id":88409,"date":"2023-12-18T18:59:18","date_gmt":"2023-12-18T16:59:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88409"},"modified":"2025-09-13T17:53:13","modified_gmt":"2025-09-13T14:53:13","slug":"eu-bars-russians-from-owning-crypto-firms","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-bars-russians-from-owning-crypto-firms\/","title":{"rendered":"EU bars Russians from owning crypto firms"},"content":{"rendered":"<p>The European Union has agreed on the <a href=\"https:\/\/www.consilium.europa.eu\/en\/press\/press-releases\/2023\/12\/18\/russia-s-war-of-aggression-against-ukraine-eu-adopts-12th-package-of-economic-and-individual-sanctions\/\">twelfth package of sanctions<\/a> against Russia, which, among other measures, prohibits Russians from owning, controlling, or occupying any positions on the boards of cryptocurrency-service companies.<\/p>\n<p>In particular, the measure covers the provision of wallet services, accounts, or custody services for digital assets to Russian citizens and residents.<\/p>\n<p>European legal entities established by Russian citizens or residents must also notify EU authorities of transfers of funds crossing the border.<\/p>\n<p>This should curb opportunities to circumvent previously imposed sanctions.<\/p>\n<p>The new package also provides for:<\/p>\n<ul class=\"wp-block-list\">\n<li>an import ban on diamonds;<\/li>\n<li>a ban on re-export to Russia;<\/li>\n<li>tighter controls on the oil price cap;<\/li>\n<li>export\u2013import controls;<\/li>\n<li>restrictions on the import of personal belongings into the EU;<\/li>\n<li>personal sanctions.<\/li>\n<\/ul>\n<p>The restrictions will enter into force after publication in the <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L:2022:259I:FULL&#038;from=EN\">Official Journal of the European Union<\/a>.<\/p>\n<p>In April 2022 the EU banned crypto firms <a href=\"https:\/\/u1f987.com\/en\/news\/eu-bans-cryptocurrency-services-for-russian-and-belarusian-citizens\">providing services related to digital assets<\/a> to residents of the Russian Federation, whose deposits exceed \u20ac10,000.<\/p>\n<p>Later the European Parliament <a href=\"https:\/\/u1f987.com\/en\/news\/eu-fully-bans-cryptocurrency-services-for-russians\">fully ruled out the possibility of servicing<\/a> their cryptocurrency wallets within the euro area and holding any amount of such assets.<\/p>\n<p>The EU, together with the United States, also imposed sanctions on several Russian banks, effectively prohibiting transfers from their issued cards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU has agreed on another package of sanctions against Russia, which, among other measures, bans Russians from owning companies that provide cryptocurrency services.<\/p>\n","protected":false},"author":1,"featured_media":88410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,27,686],"class_list":["post-88409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-russia","tag-sanctions"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=88409"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88409\/revisions"}],"predecessor-version":[{"id":88411,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88409\/revisions\/88411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/88410"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=88409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=88409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=88409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}