EU Targets $120 Billion Crypto Network in New Russia Sanctions
Russia has increasingly turned to crypto assets and stablecoins for cross-border settlement as sanctions restrict its access to conventional financial channels. The European Union’s 21st sanctions package shifts the focus toward digital infrastructure that can keep trade and capital moving outside the banking system. The move extends enforcement beyond Russian entities, raising compliance and access risks for overseas service providers facilitating transactions linked to Moscow.
As of July 24, 2026, the EU had unveiled measures targeting the A7 cross-border payment network and its stablecoin, which have handled as much as $120 billion in transactions. The package also bars 14 overseas crypto service platforms and, for the first time, introduces a third-party blocking mechanism. The steps are designed to sever alternative funding and payment routes that Russia could use through offshore intermediaries to circumvent existing restrictions.
All Coverage
1 original reportsThe Backstory
The history behind this eventEU Unveils Sweeping Russia Sanctions to Shut Down Crypto Evasion Routes
Following financial sanctions on Russia, crypto assets, stablecoins and central bank digital currencies have increasingly served as alternative channels for cross-border settlements. The European Commission has therefore made closing sanctions-evasion routes a central element of its 20th package of measures against Russia. The package covers service providers in Russia and Belarus and brings trading platforms, tokens and the digital ruble within the financial blockade.
The EU's latest proposal is its largest Russia sanctions package in two years and is scheduled to take effect on May 24, 2026. It would prohibit EU operators from transacting with Russian and Belarusian crypto service providers and seeks to block 11 platforms that assist Russia. Ruble-backed stablecoins including A7A5 and RUBx, as well as the digital ruble issued by Russia's central bank, are also designated as prohibited instruments for transactions and sanctions evasion.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.