The European Union (EU) has clarified that assets that were put on Russia and Belarus stretch out to crypto resources ,Read the blog about clarifies russia belaruscrawleycoindesk and Learn more!
On Wednesday EU called crypto under “Transferable protections” and so these are clearly included in the scope forced on Russia for its attack of the Ukraine and on Belarus for its association. As per this statement, all the present crypto assets include loans and credit are under the category of versatile assurance. This was told by the EU to a spokesperson of Coindesk, a crypto trading company. These include restrictions on the provision of SWIFT services to three Belarusian banks and their subsidiaries, prohibition of transaction with the Central Bank of Belarus and prohibiting the list of securities in relation to shares of Belarus state-owned entities on EU trading venues. These restrictions are put by the EU on Russia and Belarus because US administration thinks that there are multiple concerns raised on global platform that Russia can use its crypto assets to bypass global sanctions, but the level of this happening is debatable.
Why is Belarus supporting Russia?
Belarus is a former Soviet republic and it borders both Russia and Ukraine, it is also Europe’s last dictatorship. Lukashenko was pushed to build closer ties with Putin because of the last Presidential election. Even though he won the election with favorable result, an unprecedented public uprising followed who protested the election result. Putin was the one who helped in this protest. Since 2020, Belarus faced a series of international economic sanctions that further alienated Lukashenko from the West. The EU and the U.S. announced a new set of sanctions that restricts technology and potential war material exports to Belarus. These things pushed Belarusian leaders even closer to the Kremlin. This leaves Lukashenko with a limited ability to have an independent, or neutral, position on the war.
The human rights situation deteriorated since the 2020 elections, making several hundred thousand people leave Belarus. People increasingly cannot freely express their opinion about any of the government decisions for fear of persecution and arrest. The silencing of public opinion gives Putin more power to exploit Belarusian territory for his political and military interests. Belarusian public is not able to put pressure on the government and stop Lukashenko form following Putin’s orders.
The border between Belarus and Ukraine stretches roughly half the length of Ukraine’s border with Russia. This significantly expanded Russia’s base for attacking Ukraine. Lukashenko continues to follow Putin’s orders as the war escalates. When Putin gave orders to Russia’s nuclear force to stay on high alert, on the same day Belarus scrapped its commitment to remaining nuclear free following a public referendum vote that may have been rigged. Russia’s ability in placing nuclear weapons in Belarus has raised alarm for neighboring NATO countries, Poland, Latvia and Lithuania, as well as the U.S. and other Western Powers. This would allow Belarus to physically host Russian nuclear weapons. By hosting Russian troops and weapons, Lukashenko has shown that he is closely aligned with Putin despite the will of the Belarusian people to maintain distance.