EU Bans Ruble-Backed Stablecoin A7A5 in Expanded Sanctions Against Russia

The European Union will prohibit all transactions involving the Russian ruble-pegged stablecoin A7A5 starting November 25, 2025. The ban targets financial institutions and service providers across member states, marking Brussels' first major intervention against crypto assets tied to sanctioned Russian entities.

A7A5, jointly controlled by Russia's state-owned Promsvyazbank and sanctioned Moldovan oligarch Ilan Shor, had processed billions through Central Asian platforms. The Kyrgyzstan-based Grinex exchange—linked to former staff of blacklisted Garantex—served as a key conduit for these transactions.

EU foreign policy chief Kaja Kallas framed the measure as part of broader efforts to disrupt Moscow's financial networks. "Every euro we deny Russia is one it cannot spend on war," she stated, announcing parallel restrictions on Russian energy exports and Asian trading firms. The October 23 sanctions package reflects growing concern over crypto's role in circumventing financial isolation.