EU Council: Cryptocurrency firms must review 2,200 Russian entities

The European Council has approved the 14th round of sanctions against Russia for its invasion of Ukraine in 2022. The sanctions mainly target Russia's industrial and financial ties with the Vladimir Putin government. Sanctions include banning EU ports from reselling Russian liquefied natural gas. European banks are also banned from connecting to the Russian financial transfer system.

The European Council prohibits cryptocurrency platforms from providing transactions to any company or organization that helps Russia supplement its weapons supply and military technology. According to the latest EU sanctions, cryptocurrency companies must review 2,200 Russian entities.