The cryptocurrency exchange Binance made a covert decision on Saturday,  April 22, to eliminate the sanctions imposed against Russian nationals  and residents.

The determination follows the imposition of sanctions on Russia by the  European Union (EU) in March 2022 as a result of their invasion of  Ukraine.

Following this, Binance said that it will stop supporting deposits made  using Visa and MasterCard cards made in Russia. Additionally, they  halted any domestic deposits made using such cards.

In reaction to EU restrictions, Binance has by April terminated multiple  accounts belonging to its top clientele. As a result, fresh deposits  and trading were prohibited for Russian customers who owned  cryptocurrencies valued at more than 10,000 euros.