EU sanctions Russia’s crypto exchange Garantex over its ties to blacklisted banks

The European Union has deployed a new series of sanctions, adding Crypto Exchange Guarantsex, which was already put up black by the US Treasury OFAC.

THE European Union added Russian Crypto Exchange of Garantors to his list of sanctions as part of a new series of penalties aimed at braking financial networks supporting Moscow.

Guarantx, which was already put on black list by checking the office of foreign assets of the US Treasury in 2022, was added to the sixteenth pack of EU sanctions, which targets 48 individuals and 35 entities “directly supporting the effort of Russian war “, the EU council said that the EU said in a February 24 press release.

The Council also stressed that it was the first time that he decided to sanction an exchange of cryptocurrency based in Russia, which is “closely associated with the Russian banks sanctioned by the EU”.

“For the first time, the Council also decided to sanction, an exchange of cryptocurrency based in Russia, Guarantsex, which is closely associated with Russian banks sanctioned by the EU.”

EU Council

The package also includes sanctions against companies that help Russia get around commercial restrictions, three companies that have moved Russian crude oil and a supplier of Chinese satellite images accused of having helped the Russian army. The media accused of having propagated the propaganda of the Kremlin were also targeted.

The European Union has now sanctioned more than 2,400 people and entities related to Russia, those responsible saying that they are ready to put more sanctions if necessary.

Guarantx was previously sanctioned by OFAC in April 2022, with the authorities citing Its involvement in the facilitation of transactions associated with illicit players and the Darknet markets, including the Russian gang funds as Gang Conti and the Hydra Darknet market, now disappeared.