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07/25/2026

EU Targets $120B Russia Crypto Network in Sweeping 21st Sanctions Package

What happened: The EU adopted its 21st sanctions package against Russia on July 23, targeting the A7 cross-border payments network (which processed ~$120 billion) and the ruble-pegged A7A5 stablecoin.

EU Targets $120B Russia Crypto Network in Sweeping 21st Sanctions Package

What happened: The EU adopted its 21st sanctions package against Russia on July 23, targeting the A7 cross-border payments network (which processed ~$120 billion) and the ruble-pegged A7A5 stablecoin. Fourteen unnamed crypto service providers across Georgia, Panama, UAE, Marshall Islands, Kyrgyzstan, and Belarus were sanctioned. The package also freezes assets of 94 banks and restricts 33 more Russian financial institutions.

Why it matters: This is the largest EU sanctions batch in four years, introducing new authority to ban EU operators from transacting with crypto service providers in entire third countries. The move aims to close loopholes in sanctions evasion and signals increasing regulatory pressure on global crypto infrastructure, especially for platforms facilitating Russian flows.

Source: CoinDesk, EU Council