The European Union has imposed sanctions on 14 cryptocurrency-related platforms, including in Georgia, the European Union Council said in a statement.

“Today, the EU is significantly expanding action against Russia’s financial and banking sector as a vehicle of Russia’s war economy. The Council is imposing asset freezes and a prohibition to make funds available to 94 banks and major financial institutions, as well as to an important figure in Russia’s banking establishment. It is extending its transaction ban to 33 additional Russian credit and financial institutions. Furthermore, it is introducing a transaction ban against a Kyrgyz bank connected with the SPFS (System for Transfer of Financial Messages) ban and three other non-Russian banks for circumventing sanctions.

The EU is adding 4 designations related to the cross-border A7 network, including its new links to Africa.

It is also extending its transaction ban to 14 crypto-related service platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus", reads the statemetn issued by the Council of Europe.