EU Sanctions A7 Crypto Network Linked to Russian Election Interference

PANews reported on July 16 that according to Decrypt, the EU has sanctioned key actors who used cryptocurrencies to interfere in elections and circumvent sanctions, including the pro-Kremlin Simeon Boikov and the Moldova A7 platform. Boikov was sanctioned for spreading false videos of Georgian voter fraud in the 2024 US election. He received donations through cash-for-cryptocurrency, dark web, and Russian exchanges that did not implement KYC regulations. Sanctions also target A7 OOO, a company suspected of influencing Moldovan elections, which was used by fugitive oligarch Ilan Shor, who caused Moldova to lose $1 billion. TRM Labs executives said that the ruble stablecoin A7A5 issued by A7 is intended to circumvent sanctions. Although the media reported that its circulation volume in four months reached $9.3 billion, there was no official confirmation. However, given its purpose, the large circulation volume is not surprising, and there are actually very few entities using it. The UK has sanctioned A7 several months in advance, showing that international cooperation has been strengthened.