EU Takes Action Against Crypto Companies Accused of Facilitating Russian Aggression in Ukraine

The European Union has imposed new sanctions prohibiting Eurozone operators. From engaging with crypto asset providers that support Russia’s defense industry. 

These measures also ban the use of Russia’s System for Transfer of Financial Messages (SPFS). An alternative to SWIFT. Additionally, the sanctions target tankers in “Putin’s dark fleet,” which allegedly help Russia evade existing restrictions. 

The EU Council announced on June 24 that these actions aim to disrupt Russia’s ability to finance its war efforts in Ukraine. The sanctions list has been expanded to include 27 vessels and 61 entities involved in supporting Russia’s military and industrial activities.

Clever Robot News Desk 27^th June 2024