Attempt to frustrate Russia by the European Union continues as Bitmex in response to adhering to the EU sanctions against Russia is planning to ban Russians from accessing Bitmex.
The Seychelles-based cryptocurrency exchange is amending its restricted jurisdiction policy and Russians within the European Union will be denied access to all forms of transactions on Bitmex from July 11.
The exchange has however notified users who will be affected on Monday through email message.
According to the email seen by Cointelegraph, every Russian will be denied entry into the company from the European Union with some “exception,” depicting that such users will not be able to log in to their Bitmex accounts.
However, the ban doesn’t affect Russian residents and Russians living within the EU or Switzerland who are also citizens (dual citizenship) of the country they reside in, such users will have to submit additional info to back it up.
“If you’re a resident within the EU or Switzerland or a twin citizen of the EU or Switzerland and reside exterior Russia, you could submit extra info to use for an exemption and proceed to enter our Providers from the EU,” the assertion stated.
The move is however targeted toward traders including anyone trading on behalf of any legal entity accessing Bitmex from the European Union and are Russia registered.
This announcement came after a similar move by several cryptocurrency exchanges like Binance in response to Russia’s military operation in Ukraine.
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Putin Confidence in Russia’s Survival Amidst Sanctions
Attempts to stop Russia’s Vladimir Putin military operation in Ukraine have been unsuccessful so far, there have been quite a lot of restrictions against Russia to ensure the country is frustrated and probably reconsider its mission in Ukraine.
In the midst of the sanction, President Putin last month said Russia will continue with its military operation in Ukraine until all its global goals have been met, which he noted as “freedom for the Donbas.”
He asserted that the “blitzkrieg” of Western sanctions had failed to destroy the Russian economy, and that’s not what the west expected.
In President Putin’s view, the sanctions are doing more harm to the countries issuing them than it is harming Russia.
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