Belarusian Banks May Fall Under New EU Sanctions

Because of the ruble-stablecoin transactions.

The European Union is developing sanctions against the A7A5 stablecoin pegged to the Russian ruble. They may also affect banks in several countries that carry out such operations, writes Office Life with reference to Bloomberg.

The agency says that "several banks in Russia, Belarus and Central Asia" may fall under the EU sanctions. Which specific banks - it is not reported.

A7 is a cross-border payments company owned by banker Ilan Shor, who left Moldova. Garantex crytocurrency exchange and Russia's Promsvyazbank were also involved in the creation of the cryptocurrency.

The EU believes Russia is using the token to settle payments with companies hit by sanctions. As of September 26, there were 41.6 billion A7A5 tokens in circulation with a total value of $496 million, and the total volume of transactions with them is estimated at more than $68 billion.

The token is believed to have been created in the jurisdiction of Kyrgyzstan. As of March 2025, its stated yield was 8.63% per annum, and now it is estimated to be more than 9%.

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