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EU sanctions target cryptocurrencies after Russian attack in Ukraine

2 min read
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EU sanctions target cryptocurrencies after Russian attack in Ukraine
Source: Mathias Reding/Pexels — EU sanctions target cryptocurrencies after Russian attack in Ukraine
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A Russian attack against an energy facility in Chernihiv, in northern Ukraine, interrupted the electricity supply for about 150 thousand residents of the city and the neighboring district on Friday.

The regional electricity distributor said on Telegram that technical teams were working to reconnect affected consumers as soon as conditions allowed.

In the capital, Kyiv, Mayor Vitali Klitschko reported that Ukrainian air defenses acted that same morning to contain another Russian offensive against the city.

On the Ukrainian side, President Volodymyr Zelenskyy celebrated operations by the Defense Forces against a missile components factory in the Russian city of Kirov and a refinery located nearly 1.350 kilometers away.

According to him, the Kirov unit supplied Russian aircraft and missile systems, which would make the offensive “fully justified,” since those same parts fueled bombings against Ukrainian communities.

“There were also other successful attacks. It is important to stress that the operation against Russian logistics, which supplies the occupation army with drone components, navigation equipment, and military material, remains ongoing,” Zelenskyy wrote on social media.

In recent days, Ukrainian forces have concentrated efforts on logistics centers inside Russian territory, including several strikes against Wildberries warehouses, a retailer often compared to Amazon.

The strategy marks a different phase of the conflict that has already lasted more than four years, with a focus on disrupting supply chains and increasing the financial cost borne by companies and by the Russian state budget.

European package reaches the cryptocurrency sector

In parallel, the European Union announced on Thursday its largest set of sanctions against Moscow in four years, affecting approximately 220 people and entities linked to the Russian war economy.

The scope of the measure draws attention for including companies from the cryptocurrency market, in addition to traditional financial institutions and maritime transport structures.

“We are targeting more than one hundred banks and cryptocurrency operators, more than 40 vessels from Russia’s shadow fleet, and several oil refineries in Russia and Belarus,” said the head of European diplomacy, Kaja Kallas, in a statement.

“Russia will only negotiate the end of its illegal war and the end of the killing of civilians if it is pressured to do so. The sanctions increase that pressure,” the bloc’s representative added.

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