Britain imposes sanctions on 18 crypto exchanges and financial networks used by Russia
The United Kingdom announced a new package of 18 sanctions against cryptocurrency and financial networks that Russia uses to circumvent previously imposed Western sanctions, the UK government reported.
The statement emphasizes that Russia increasingly turns to illegal networks and shadow financial systems. One of these is the A7 network, through which Russia receives funds from oil sales and finances its military-industrial complex. In 2025, over 90 billion dollars were transferred through it, which corresponds to approximately half of Russia's annual military expenditures.
Sanctions were also imposed against cryptocurrency exchanges and companies close to A7.
"The A7 network uses a Kyrgyz bank suspected of facilitating payments for the network, as well as a major global cryptocurrency exchange, which we suspect directed over 1.5 billion dollars into the Kremlin's hands. We are also imposing sanctions against 3 Georgian companies that operate exchanges oriented towards Russia," the press release stated.
The UK government added that it is "ready to increase pressure on Russia and will continue to strengthen sanctions at every opportunity" as long as "the killings in Ukraine continue."
"If the Kremlin thinks it can bypass our sanctions by hiding behind crypto networks and shadow financial systems, they are deeply mistaken," said UK Foreign Secretary Yvette Cooper.
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