BlockBeats News, July 24th, the European Union (EU) has expanded sanctions against Russia, targeting the A7 cross-border payment network and its newly established African affiliate, as well as the A7A5 stablecoin used to circumvent sanctions.

The latest sanctions package extends the trading ban to 14 crypto-related platforms in countries such as Georgia, the UAE, Panama, and introduces a tool to enable a comprehensive ban on the use of crypto assets by Russia.

In addition to the digital asset measures, the EU has also imposed asset freezes and trading bans on 94 banks and major financial institutions, and extended the trading ban to an additional 33 Russian credit and financial institutions.