EU Imposes Sanctions on Russian Crypto Platforms and A7A5 Stablecoin

The European Union has introduced its 19th sanctions package against Russia, targeting cryptocurrency platforms for the first time since the outbreak of the Ukraine war. This new measure prohibits cryptocurrency payment providers based in Russia and restricts the distribution of related software within the EU’s borders. The sanctions also aim to prevent Russian energy firms, banks, and companies in China, Kyrgyzstan, Tajikistan, Hong Kong, and the United Arab Emirates from circumventing previous restrictions.