Denmark Proposes EU Sanctions on Russia’s Crypto Revenue to Curb War Financing

European Union ministers are convening in Copenhagen to discuss escalating pressure on the Kremlin, with Denmark leading calls to target Russia's cryptocurrency transactions as part of broader sanctions. The move aims to disrupt Moscow's ability to fund its ongoing war in Ukraine.

Denmark, holding the rotating EU presidency, is pushing for measures that would cripple Russia's oil and gas revenue streams while specifically sanctioning crypto operations used for cross-border payments. The proposal comes as Western nations seek to close loopholes in existing financial restrictions.

Russia's adoption of cryptocurrencies for foreign trade settlements has raised concerns among European officials. The country reportedly turned to digital assets after traditional banking channels became inaccessible following previous rounds of sanctions.