The United Kingdom on Tuesday targeted cryptocurrency platforms, banks, and financial networks linked to Russia that it said were being used to circumvent sanctions, freezing their assets and prohibiting British firms from processing payments or maintaining correspondent banking relationships with them.
The measures focus on what London described as “shadow financial systems” supporting Russia’s war economy, including the Kremlin-backed A7 network, which is reportedly used to channel funds, finance procurement operations, and exploit foreign banking systems to evade restrictions.
The package also targets cryptocurrency exchanges and entities operating Russia-focused platforms, including a bank in Kyrgyzstan and multiple firms registered in jurisdictions such as Georgia and the United Arab Emirates, along with individuals connected to the network.
“We will continue to act swiftly and decisively, alongside our allies, to expose, disrupt, and dismantle these networks and ensure that those enabling Russia’s aggression face consequences,” British Home Secretary Yvette Cooper said in a statement.
The move comes nearly a week after Britain announced it would delay a ban on imports of oil and jet fuel derived from Russian crude refined in third countries, describing the decision as a phased approach rather than any easing of sanctions.
