The Strategist

U.S. and EU to create working groups to hold Russia down

03/25/2022 - 09:09

The United States and the European Union will intensify their efforts to guarantee that Russia does not utilize digital currency to circumvent Western sanctions imposed in response to the events in Ukraine. President Joe Biden of the United States and European Commission President Ursula von der Leyen issued a joint statement on the subject.

Pietro Naj-Oleari
Pietro Naj-Oleari
"We plan to announce tighter collaboration in countering criminal use of digital assets, particularly their misuse to escape multilateral sanctions imposed in response to Russia's unjustifiable military invasion of Ukraine," the paper released after the US-EU Commission session in Brussels states.

The US and EU also reiterate their intention to actively enhance cybersecurity cooperation "through various steps," including aiding the Ukrainian government "in enhancing its cyber resilience and cyber protection before combatting the exploitation of virtual currency," according to their statement.

Furthermore, the United States and the European Union have agreed to form a collaborative working group to "address the EU's serious energy security challenges and expedite the transition" to sustainable energy.