The European Union on July 24 widened its sanctions on Russia, adding crypto-related targets to its latest package. According to BlockBeats, the measures cover the A7 cross-border payments network, its newly established African affiliate, and the A7A5 stablecoin, which the report said had been used to circumvent sanctions.
The new package also extends transaction bans to 14 crypto-related platforms located in countries including Georgia, the United Arab Emirates and Panama. In addition, the EU introduced a new tool that could be used to impose a full ban on crypto-asset services used by Russia.
The digital-asset restrictions were announced alongside broader financial measures. The EU also imposed asset freezes and transaction bans on 94 banks and major financial institutions, while extending transaction bans to another 33 Russian credit and financial institutions. The move forms part of the bloc’s 21st round of sanctions targeting Russia.
The European Union on July 24 expanded its sanctions against Russia, with the new measures covering the A7 cross-border payments network, its newly established African affiliate, and the A7A5 stablecoin, which was described as being used to bypass sanctions, according to BlockBeats.
The latest sanctions package extends transaction bans to 14 crypto-related platforms in countries including Georgia, the United Arab Emirates and Panama. It also introduces a tool that could be used to fully prohibit crypto-asset services used by Russia.
Beyond the digital-asset measures, the EU imposed asset freezes and transaction bans on 94 banks and major financial institutions, and widened transaction bans to another 33 Russian credit and financial institutions.
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