The fact that Donald Trump allowed the sanctions loophole to expire can be used politically. However, it will not be a blow that could particularly harm Russia, assesses Szymon Kardaś from the European Council on Foreign Relations.

The stiffer restrictions come as the Trump administration is trying to convince Russia to accept terms of a proposed 30-day ceasefire.

Russia is reportedly utilizing cryptocurrency and stablecoins in its oil trade with China and India to skirt sanctions from Western countries. Russia publicly encouraged the use of cryptocurrencies and passed a law allowing digital currencies last year.