The United States has imposed blacklist sanctions on the stablecoin A7A5 and the encryption network under Garantex.

On August 15, according to CoinDesk, the United States imposed blacklist sanctions on the ruble stablecoin A7A5 and the now-closed Russian cryptocurrency trading platform Garantex. Garantex was shut down after processing over $100 million in illegal transactions and subsequently rebranded as Grinex to continue operations. The stablecoin A7A5 is supported by Russian institutions and is used to evade international sanctions, with a daily volume of $1 billion. In March, the U.S. collaborated with German and Finnish police to seize Garantex's website domain and freeze $26 million in assets. Key executives of Garantex, Sergey Mendeleev, Aleksandr Mira Serda, and Pavel Karavatsky, along with Mendeleev's companies InDeFi Bank and Exved, were also placed on the sanctions list for helping sanctioned Russian businesses conduct transactions through crypto channels. Blockchain analysis firm Elliptic reported that the ruble stablecoin A7A5 supported a "sanctions evasion scheme," enabling Russian companies to bypass traditional banking systems for cross-border payment settlements.