Svmuu News: The European Union (EU) has expanded the scope of its sanctions against Russia, targeting the A7 cross-border payment network and its newly established African affiliates, as well as the A7A5 stablecoin, which has been used to circumvent sanctions.
The latest sanctions package extends the transaction ban to 14 crypto-related platforms in countries such as Georgia, the United Arab Emirates, and Panama, and introduces a tool that can be used to comprehensively prohibit crypto asset services used by Russia.
In addition to the digital asset measures, the EU has imposed asset freezes and transaction bans on 94 banks and major financial institutions, and has expanded the transaction ban to include an additional 33 Russian credit and financial institutions.