The European Union has widened its sanctions against Russia, adding the A7 cross-border payment network, its newly established African affiliate, and the A7A5 stablecoin to the latest package. According to ChainCatcher, the stablecoin was cited as being used to circumvent sanctions. The new measures also extend transaction bans to 14 crypto-related platforms in countries including Georgia, the United Arab Emirates, and Panama. In addition, the EU introduced a new tool that can be used to impose a full ban on crypto-asset services used by Russia. Beyond digital-asset measures, the bloc also imposed asset freezes and transaction bans on 94 banks and major financial institutions, while expanding transaction bans to another 33 Russian credit and financial institutions. The move shows the EU is widening the scope of its sanctions from traditional finance to crypto-linked payment infrastructure and related service providers named in the latest package.
The European Union has expanded its sanctions against Russia, with the latest measures targeting the A7 cross-border payment network, its newly established African affiliate, and the A7A5 stablecoin, which ChainCatcher said was used to circumvent sanctions.
Crypto-related platforms added to the sanctions scope
The new 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 can be used to fully prohibit crypto-asset services used by Russia.
New restrictions also cover banks and financial institutions
Outside the digital-asset measures, the EU imposed asset freezes and transaction bans on 94 banks and major financial institutions. It also expanded transaction bans to another 33 Russian credit and financial institutions.
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