UK targets Putin's cryptocurrency networks in latest sanctions

THE INDEPENDENT · 2026-05-26

A new package of UK sanctions aiming to shut off funding to Russia’s war effort will target crypto networks. They target cryptocurrency exchanges and the so-called “A7 network”, which the Foreign Office said was being used by Russia to evade existing restrictions and channel funds to fuel its war against Ukraine. Foreign Secretary Yvette Cooper said: “If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken. “The UK is adapting and strengthening our approach to target the evolving tactics Russia is using to evade restrictions. “We are going after the infrastructure that underpins its war economy at the same time as Ukraine is increasing the pressure on Russia on the battlefield. “We are tracking down and shutting off the financial lifelines that sustain Putin’s war machine. “There will be no safe havens for those enabling Russia’s aggression. “We will continue to act fast and decisively, alongside our allies, to expose, disrupt and dismantle these networks, and ensure those enabling Russia’s aggression face consequences.” The department said the “A7” gang was using a Kyrgyz bank suspected of facilitating payments for the network, alongside a major global cryptocurrency exchange that which officials suspect has channelled over 1.5 billion dollars (around £1.1 billion) back into the Kremlin’s hands. A package of 18 designations will come into effect immediately, the Foreign Office said. This is a developing story. More to follow. Join thought-provoking conversations, follow other Independent readers and see their replies

AI 시장 분석

The UK has announced its latest sanctions targeting cryptocurrency networks linked to Putin. This move aims to prevent Russia from circumventing traditional financial sanctions, indicating increased international scrutiny on illicit cryptocurrency use.

상승 영향

Cybersecurity — The tracking and sanctioning of illicit cryptocurrency networks will increase demand for blockchain analytics and cybersecurity technologies, benefiting companies in this sector.
Traditional Finance — Efforts to block sanction evasion via cryptocurrencies may relatively highlight the stability and trustworthiness of regulated traditional financial systems.

하락 영향

Cryptocurrency (General) — Sanctions on cryptocurrency networks used for illicit activities raise concerns about broader regulatory tightening, potentially dampening investor sentiment and putting downward pressure on prices across the market.
Privacy Coins — Privacy-focused cryptocurrencies, often used to obscure transactions, face increased risk of intense scrutiny and sanctions from regulatory authorities due to their potential misuse for sanction evasion.

AI가 생성한 분석으로 투자 자문이 아닙니다.

DYAX Investor Sentiment

Bullish (Long) 53% · Bearish (Short) 47%

468 participants

Related News

원문 보기 — THE INDEPENDENT