Europe

Europe

Denmark seeks EU sanctions on Russia’s crypto

28 August 2025 17:39 (UTC +04:00)

Denmark wants the EU to restrict Moscow’s cryptocurrency transactions as part of fresh European sanctions against Russia to be discussed in Copenhagen this week, APA reports citing Cryptopolitan.

EU ministers are gathering to consider moves to put more pressure on the Kremlin to end the war in Ukraine while providing Western support for the country.

European defense and foreign ministers are arriving in the Danish capital on Thursday to mull measures to convince Russia that continuing the war makes no sense, Politico noted in a report, citing an EU diplomat.

Talks will focus on security guarantees for Ukraine and the European Union’s next round of sanctions against the Russian Federation, which invaded its neighbor more than three years ago.

Denmark, currently holding the EU presidency, intends to discuss with the ministers ways to “further hamper Russia’s war-financing ability and warfare capability,” according to a document seen by the political news outlet.

The hosts are pitching the idea to impose additional sanctions on Russian revenues from oil and gas sales and hit its banking and finance sector, including crypto operations. The report was quoted by Russia’s official TASS news agency.

Russia, which allowed companies to use cryptocurrencies in foreign trade settlements, has long been suspected of utilizing digital coins for cross-border payments as its access to traditional financial channels remains severely limited.