UK targets Russian crypto networks in latest sanctions
The UK has implemented new sanctions targeting Russian-linked cryptocurrency networks and financial institutions. These measures aim to disrupt the financial systems that support Russia's war efforts in Ukraine. The UK government is committed to working with allies to dismantle these networks and hold accountable those facilitating Russia's aggression.
- ▪The UK has frozen assets of Russian-linked cryptocurrency platforms and banks.
- ▪Sanctions are aimed at disrupting financial systems used to bypass existing restrictions.
- ▪The measures include targeting the Kremlin-backed A7 network and associated individuals.
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UK targets Russian crypto networks in latest sanctionsSign up now: Get ST's newsletters delivered to your inboxBritish Foreign Secretary Yvette Cooper walks outside 10 Downing Street, on the day of a cabinet meeting, in London, Britain, May 19, 2026. REUTERS/Jaimi JoyPublished May 26, 2026, 08:29 PMUpdated May 26, 2026, 08:29 PMLONDON, May 26 - Britain on Tuesday targeted Russian-linked cryptocurrency platforms, banks and financial networks it said were used to bypass sanctions, freezing their assets and barring UK firms from processing payments or maintaining correspondent banking ties.The measures focus on what London described as "shadow financial systems" underpinning Russia’s war economy, including the Kremlin-backed A7 network, which it said has been used to route funds, finance…
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