According to a statement released by crypto exchange Deribit on its official website, the exchange announced its withdrawal from the Russian market due to sanctions imposed by the EU. "Deribit will no longer accept Russian citizens and Russian residents as customers due to EU sanctions on Russia, unless exceptions apply. These EU sanctions are binding on us because Deribit's parent company is located in the Netherlands." Russian citizens are not allowed to use the services of the cryptocurrency exchange unless they are also citizens of the European Economic Area (EEA) or Switzerland, or have long lived in an EEA member state or Switzerland. According to the example cited by the exchange, Russian citizens living in Ireland or having a Danish nationality can use the Deribit service. Russians living in the UAE cannot use their services either. Russian companies do not enjoy any exceptions.