As part of the eighth round of sanctions against Russia, the European Union (EU) has imposed a complete ban on all crypto services for Russian companies. Find out about our latest news, articles and more! Follow us „Current bans on cryptocurrencies have been strengthened by banning all wallets, accounts or holding services, regardless of wallet,” the European Commission said in a press release on Thursday. The initial limit established in April allowed these companies to continue serving Russian portfolios of a maximum size of 10,000 euros. EU Sanctions Against Russia The tougher sanctions are designed to punish Russia for its continued escalation and illegal war against Ukraine, which has included a troop build-up and the use of an obvious nuclear threat.