FT: EU's 21st sanctions package against Russia to extend to cryptocurrency platforms in Georgia
Anti-Russian sanctions target Georgia
According to the Financial Times, the EU’s 21st sanctions package against Russia will also extend to cryptocurrency platforms operating in Georgia. The newspaper reports that the measures will primarily target crypto companies and platforms based outside Russia that Brussels accuses of providing services to sanctioned entities and helping circumvent existing restrictions.
The package prepared by the EU also envisages sanctions against 31 Russian banks and 20 oil traders operating in third countries. The move is aimed at increasing pressure on Moscow’s financial and energy networks.
According to the Financial Times, the sanctions list will include 11 cryptocurrency platforms registered in Belarus, Georgia, Nigeria, Panama, the United Arab Emirates and the Marshall Islands. The list also includes four banks from Kyrgyzstan, Mongolia and India, as well as five oil traders based in the United Arab Emirates.
The new package contains another element: the EU plans to impose visa restrictions on Russian citizens who have served in the Russian armed forces since the start of the full-scale war in Ukraine.
In addition, Brussels is considering postponing a planned reduction in the price cap on Russian oil until January. According to the newspaper, the aim is to curb the increase in Russia’s oil revenues amid rising oil prices linked to the war with Iran.
The decision requires the unanimous support of EU member states. The agreement must be approved by 15 July; otherwise, the price cap will automatically rise above its current level of $44.10 per barrel.
The new sanctions package also includes additional restrictions on imports of various metals and seafood products, as part of the EU’s efforts to further reduce Russia’s economic capacity and export revenues.
Anti-Russian sanctions target Georgia
