Despite US sanctions targeting the project, a rouble-backed stablecoin linked to a Russian defense lender has gained attention at this week’s TOKEN2049 event in Singapore. A7A5, created in January by a company sanctioned for its alleged role in supporting Russia’s financial operations amid the Ukraine conflict, is operating despite the lack of similar restrictions in Asia. While the US and UK have imposed sanctions on A7A5’s creators, neither Singapore nor Hong Kong have implemented comparable measures. The token’s presence at the event and subsequent removal from the conference website highlights a gap in global regulatory enforcement and illustrates how sanctioned players are leveraging opportunities in Asia. The company’s director, Oleg Ogienko, claims to be compliant with Kyrgyz regulations, emphasizing that A7A5 is not involved in money laundering activities despite the sanctions.