EU sanctions to restrict Russian access to encryption services

 

EU sanctions to restrict Russian access to encryption services

Unveiling the latest EU sanctions to restrict Russian access to encryption services in Europe

New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine will restrict European crypto services for Russians.

 

EU sanctions to restrict Russian access to encryption services

Unveiling the latest EU sanctions to restrict Russian access to encryption services in Europe

New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine will restrict European crypto services for Russians.

Reports of the tightening came after the Union earlier this year banned "high value" cryptocurrency services only to Russian residents and companies.

The EU is expected to target Russian encryption services in a new round of sanctions on Ukraine

The European Union is preparing to punish Russia further because of its decision to announce partial mobilization as part of its escalating military intervention in Ukraine

and move to annex occupied Ukrainian territory through what are perceived as false referendums.

The package will affect trade primarily, with European Commission President Ursula von der Leyen announcing her intentions to impose a new ban on Russian imports

as well as exporting techniques that the Russian military can use. A cap on Russia's oil price is also planned.

The new measures also aim to further restrict the ability of Russians to transfer wealth

Using digital assets such as cryptocurrencies according to Bloomberg quoted an informed source.

The report revealed that Brussels wants to prevent European companies from offering an encryption portfolio, account or preservation of digital currencies to Russian citizens and entities.

• He added (an unknown person) that jewellery and gemstones were also on the list

• and requested anonymity because the proposal remained confidential.

•  He also suggests cracking down on people trying to circumvent sanctions.

It aims to prevent EU citizens from holding high-paying positions in Russian State

owned companies, and to punish individuals and entities involved in Ukraine's recent referendums.

Cryptocurrencies were targeted in the sanctions imposed this spring, the fifth round of these measures approved by the Council of the European Union, aimed at narrowing current cryptographic gaps.

At that time, the European Union banned the provision of "high value" 

1. Encrypted asset services for Russian entities and residents.
2. Restrictions on digital funds exceeding Euro
3. 10,000 have been applied (now US $9803).

Since Moscow launched a large-scale military invasion of neighbouring Ukraine in late February, which has been granted the status of candidate for membership of the European Union

The 27-strong bloc adopted multiple sanctions against the Russian Federation. For each to be enforced, unanimous consent from all Member States is required.

The EU is expected to target Russian encryption services in a new round of sanctions on Ukraine

The European Union is preparing to punish Russia further because of its decision to announce partial mobilization as part of its escalating military intervention in Ukraine

and move to annex occupied Ukrainian territory through what are perceived as false referendums.

The package will affect trade primarily, with European Commission President Ursula von der Leyen announcing her intentions to impose a new ban on Russian imports

as well as exporting techniques that the Russian military can use. A cap on Russia's oil price is also planned.

The new measures also aim to further restrict the ability of Russians to transfer wealth

Using digital assets such as cryptocurrencies according to Bloomberg quoted an informed source.

The report revealed that Brussels wants to prevent European companies from offering an encryption portfolio, account or preservation of digital currencies to Russian citizens and entities.

• He added (an unknown person) that jewellery and gemstones were also on the list

• and requested anonymity because the proposal remained confidential.

•  He also suggests cracking down on people trying to circumvent sanctions.

It aims to prevent EU citizens from holding high-paying positions in Russian State

owned companies, and to punish individuals and entities involved in Ukraine's recent referendums.

Cryptocurrencies were targeted in the sanctions imposed this spring, the fifth round of these measures approved by the Council of the European Union, aimed at narrowing current cryptographic gaps.

At that time, the European Union banned the provision of "high value" 

1. Encrypted asset services for Russian entities and residents.
2. Restrictions on digital funds exceeding Euro
3. 10,000 have been applied (now US $9803).

Since Moscow launched a large-scale military invasion of neighbouring Ukraine in late February, which has been granted the status of candidate for membership of the European Union

The 27-strong bloc adopted multiple sanctions against the Russian Federation. For each to be enforced, unanimous consent from all Member States is required.