UK targets Russian crypto networks in latest sanctions
Britain said the package targets 14 companies and four individuals tied to a Kremlin-backed network that moved more than $90 billion in 2025.
- On Tuesday, Britain announced a tough new wave of sanctions aimed at disrupting the crypto and financial networks Russia uses to bypass Western restrictions, with a package of 18 designations coming into effect immediately that freeze assets and bar British firms from processing payments.
- The measures stem from a broader Western effort to close financial loopholes that Russia has increasingly relied on as sanctions pressure tightened, targeting what London described as shadow financial systems underpinning Russia's war economy, including the Kremlin-backed A7 network.
- Britain imposed sanctions on 14 companies and four individuals, including cryptocurrency exchange EXMO, HTX , Bitpapa, Rapira, and Eurasian Savings Bank in Kyrgyzstan, with officials suspecting over 1.5 billion dollars flowed through the network to the Kremlin.
- Foreign Secretary Yvette Cooper stated 'We are tracking down and shutting off the financial lifelines that sustain Putin's war machine,' warning the government will 'continue to act fast and decisively, alongside our allies, to expose, disrupt and dismantle these networks.'
- Britain has now sanctioned more than 3,300 individuals and entities since the invasion began, with authorities claiming $450 billion in cumulative losses to Russia's war economy, as regulators worldwide increase focus on cryptocurrency platforms facilitating transactions outside traditional banking.
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27 Articles
UK Expands Crackdown on Russian Crypto Networks to Enforce Sanctions
The UK government has targeted Russian crypto networks in its latest sanctions, aiming to disrupt financial systems aiding Russia's military efforts in Ukraine. This aggressive strategy seeks to expose and dismantle infrastructure sustaining Russian aggression, with Foreign Secretary Yvette Cooper emphasizing decisive actions against these illicit channels.
The measures target what the British government has described as "parallel financial systems" that underpin the war economy between Moscow and Kiev.
UK targets Russian crypto networks and financial firms with new sanctions over Ukraine war
The United Kingdom has announced a new package of sanctions targeting cryptocurrency and financial entities that, according to officials, help Russia circumvent Western restrictions and fund its war against Ukraine. The latest measures target crypto exchanges, Russian-connected firms, and the A7 network-a Kremlin-backed system that British authorities claim has been used to evade sanctions, finance military purchases, and process payments from o…
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NewsDrumUK targets Russia's crypto networks feared as means to bypass sanctions
London, May 26 (PTI) Crypto networks used by Russia to circumvent UK sanctions have been included in a fresh wave of crackdowns on illicit finance, the British government said on Tuesday. The Foreign, Commonwealth and Development Office (FCDO) said the action ramps up pressure against Russian President Vladimir Putin’s “war machine” and in support of […]
Britain Imposes New Sanctions on Russian Crypto Infrastructure
Britain imposed a new round of sanctions on Russian cryptocurrency platforms and financial infrastructure that it says are helping Moscow circumvent Western restrictions and fund its war effort in Ukraine, targeting a Kremlin-linked crypto network and several widely used digital payment services.
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