GoCheckMyCrypto.comEU issues 21st sanctions package targeting Russia's $120B crypto network
The European Union expanded sanctions against Russia on July 24, designating the A7 cross-border payments network and 14 unnamed crypto service platforms, and introducing a new tool to ban third-country crypto providers. The A7 network, which operates the A7A5 stablecoin, has processed nearly $120 billion and is designed for sanctions evasion.
The European Union expanded sanctions against Russia on July 24, targeting the A7 cross-border payments network and introducing a new regulatory tool to block crypto-asset services used by Russian entities. The move marks the first time the EU has established a mechanism enabling full bans on third-country crypto providers.
According to CoinDesk's reporting, the A7 network, where the A7A5 stablecoin operates, has processed nearly $120 billion to date and is purposely built for Russia's sanctions evasion. The EU designated four entities related to the A7 network, including its newly developed links to Africa, as part of the package.
Beyond the A7 network, the EU extended its transaction ban to 14 unnamed crypto-related service platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus. The identities of these platforms remain undisclosed, per CoinDesk's reporting. The broader sanctions package also freezes assets and bans transactions for 94 banks and major financial institutions, and extends its transaction ban to 33 additional Russian credit and financial institutions.
Kaja Kallas, High Representative for Foreign Affairs and Security Policy and chair of the Foreign Affairs Council, stated: "We're hitting over a hundred banks and crypto operators, 40+ vessels in Russia's shadow fleet, and several oil refineries in Russia and Belarus," according to CoinDesk's reporting. The new third-country ban tool, described as enabling the EU to block any transaction between EU operators and crypto providers used by Russia, represents a departure from previous sanctions targeting specific entities.
The escalation comes as Russia itself moves in the opposite regulatory direction. Three days before the EU sanctions package, Russia's State Duma passed legislation establishing the country's first comprehensive framework for regulating crypto, with most rules slated to come into effect on September 1, per CoinDesk's reporting.
The EU's previous major sanctions package against Russia was announced in April 2026, described at the time as the biggest package in two years. In that announcement, the EU stated that "Russia is becoming increasingly reliant on cryptocurrencies for international transactions," according to CoinDesk's reporting.
Challenges to enforcement remain unresolved. The 14 targeted platforms are unnamed, leaving unclear which specific services are subject to the ban. The new third-country ban tool is described as "possible" and using language suggesting it may still require further implementation steps before becoming operational.
The EU introduced the first-ever regulatory tool enabling full bans on crypto-asset services used by Russia, marking the first time the bloc has established a mechanism to block third-country crypto providers.
Watch for the EU to name the 14 targeted platforms and implement the new third-country ban tool, which would establish a precedent for international crypto-focused sanctions enforcement. The story loses force if the unnamed platforms prove minor or if implementation stalls pending member-state consensus.
And that's the way it is.
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