On February 7, according to Russia's Tass news agency, according to a statement issued by the crypto exchange Deribit on its official website, the exchange announced its withdrawal from the Russian market due to sanctions imposed by the European Union. Deribit said: "Due to EU sanctions on Russia, Deribit will no longer accept Russian citizens and Russian residents as customers unless exceptions apply. Since Deribit's parent company is located in the Netherlands, these EU sanctions are binding on us." Russian citizens are not allowed to use the services of the cryptocurrency exchange unless they are also citizens of a member state of the European Economic Area (EEA) or Switzerland, or have long-term residents in an EEA member state or Switzerland. According to examples cited by the exchange, Derbit services can be used by Russian citizens who live in Ireland or also have Danish citizenship. Russians living in United Arab Emirates cannot use its services. Russian companies do not enjoy any exceptions.