EU Enacts Broad Sanctions Targeting $120 Billion Russian Crypto Network

The European Union has expanded its sanctions against Russia to cover four designations linked to the cross‑border A7 network, which now includes new connections to Africa.

In addition, the EU is extending its transaction prohibition to 14 unnamed crypto‑service platforms operating in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus.

Chainalysis reported that the A7 network, which hosts the A7A5 stablecoin, has processed close to $120 billion in transactions and was specifically designed to facilitate Russia’s sanctions‑evasion efforts.

“We are targeting more than a hundred banks and crypto operators, over 40 vessels in Russia’s shadow fleet, and several oil refineries in Russia and Belarus,” said Kaja Kallas, High Representative for Foreign Affairs and Security Policy and chair of the Foreign Affairs Council.

In April, the EU announced its previous sanctions package against Russia, describing it as the largest set of measures imposed on the country in two years, and noted that Russia is increasingly turning to cryptocurrencies for cross‑border transactions.

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