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The United Kingdom announced a new package of sanctions against cryptocurrency and financial entities that Russia uses to circumvent existing measures.
This was reported by the UK government.
The new package includes 18 sanctions aimed at illicit infrastructure that facilitates financing for Russia’s military procurements and the processing of funds from oil sales.
The A7 network was sanctioned; according to the UK government, it is used to finance military purchases and to process payments from oil sales. Last year more than $90 billion may have passed through this system.
In addition, the new restrictions target:
- key individuals associated with the A7 network;
- a Kyrgyz bank suspected of processing payments for this network;
- a major cryptocurrency exchange through which the Kremlin may have moved more than $1.5 billion;
- three Georgian companies that operated Russia-focused exchanges to evade sanctions.
«We are tracking and shutting down the financial channels that support Putin’s war machine. There will be no safe haven for those who facilitate Russia’s aggression», — said Foreign Secretary Yvette Cooper.
More about the UK’s sanctions against Russia
Since the start of Russia’s full-scale invasion of Ukraine, the United Kingdom has imposed sanctions on over 3,300 individuals, companies and vessels.
As a result of international sanctions, Russia’s war economy has already lost more than $450 billion.
The UK government also noted that in May 2026 Russia lowered its economic growth forecast for this year from 1.3% to 0.4%.
Recall that the European Union has begun preparing a 21st package of sanctions against Russia. It may be presented at the end of June or the beginning of July.
Among the main targets are the network of tankers of the shadow fleet that Russia uses to export oil to circumvent restrictions. The new package will also include sanctions against Russian banks, financial institutions, defense industry enterprises and companies involved in the sale of stolen Ukrainian grain.