<p><span style="font-weight: 400;">The European Union has toughened restrictions on crypto payments from Russian accounts, wallets or other holding services to European ones. </span></p> <p><span style="font-weight: 400;">In the eighth sanctions package against Russia since its invasion of Ukraine in February, <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_22_5989">the bloc</a> </span><span style="font-weight: 400;">removed the cap of €10,000 which was established in April to a prohibition “irrespective of the amount of the wallet.”</span></p> <p><span style="font-weight: 400;">The EU’s new sanctions also include import bans totalling up to €7 billion in an attempt to restrain Russia’s war, and lay the groundwork for implementing an oil price cap.</span></p> <p><span style="font-weight: 400;">Policymakers in the European institutions pushed for implementing more severe sanctions on Russia in response to the results of the “sham referenda” conducted in the occupied Ukrainian regions of Donetsk, Kherson, Luhansk and Zaporizhzhia – which MEPs </span><a href="https://www.europarl.europa.eu/news/en/press-room/20220930IPR41935/meps-call-for-massive-increase-of-military-assistance-to-ukraine" target="_blank" rel="noopener"><span style="font-weight: 400;">called</span></a><span style="font-weight: 400;"> “null and void.”</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>