EU 21st round of sanctions on Russia extended to 14 encryption-related platforms

THE EUROPEAN UNION (EU) HAS EXPANDED THE SCOPE OF SANCTIONS AGAINST RUSSIA TO INCLUDE A7 CROSS-BORDER PAYMENT NETWORKS AND THEIR NEWLY ESTABLISHED AFRICAN LINKS, AS WELL AS THE A7A5 STABILIZATION CURRENCY USED TO CIRCUMVENT SANCTIONS. THE LATEST SANCTIONS PROGRAMME EXTENDED TRADE BANS TO 14 ENCRYPTION-RELATED PLATFORMS IN COUNTRIES SUCH AS GEORGIA, THE UNITED ARAB EMIRATES AND PANAMA, AND INTRODUCED A TOOL THAT COULD BE USED FOR A TOTAL BAN ON ENCRYPTED ASSET SERVICES IN RUSSIA. IN ADDITION TO DIGITAL ASSETS MEASURES, EU ALSO IMPOSED AN ASSET FREEZE AND A TRADE BAN ON 94 BANKS AND MAJOR FINANCIAL INSTITUTIONS AND EXTENDED THE TRADE BAN TO AN ADDITIONAL 33 RUSSIAN CREDIT AND FINANCIAL INSTITUTIONS。