According to RBC, Russian users of Binance are still unable to conduct peer-to-peer transactions in Euros and U.S. dollars.

Binance allegedly lifted as far as possible it put on Russian records in 2022, neighborhood news source RBC wrote about April 18.

A media correspondent was informed by the technical support team of the cryptocurrency exchange that the company had lifted its restrictions.

RBC reported that the technical support team wrote that Russian users could now use the platform to trade with deposits exceeding €10,000.

Peer-to-peer transactions in Euros and U.S. dollars are still prohibited for Binance Russian users. RBC added that this restriction applies to all Russian citizens.

Binance was at this point to answer CryptoSlate’s solicitation for input as of press time.

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On its platform, Binance imposed severe sanctions in April 2022 against Russians with assets exceeding €10,000. The exchange at the time cited Russia restrictions in the EU’s fifth package as the reason for its decision.

Other cryptocurrency exchanges, such as Blockchain.com, Crypto.com, and LocalBitcoins, followed Binance in denying Russians access to their services.

The West continues to lavish sanctions on Russia for its invasion of Ukraine. The Russian Federation has considered using cryptocurrencies to circumvent the sanctions as a result.

As a result of President Vladimir Putin’s signing of a law that outlaws local crypto payments, the nation’s position on cryptocurrencies remains murky.