The UK sanctioned five crypto and payment platforms, including Cryptomus and TokenSpot, for facilitating transactions that help Russia circumvent financial sanctions. Two of the targets processed transactions with Russia's A7 network, an illicit finance operation that moved over $90 billion last year. The sanctions are part of a broader 38-target package targeting Russian oil companies and shadow fleet tankers.
The UK sanctioned three cryptocurrency exchanges and two payment processors linked to Russian entities and the A7 financial network, which has moved over $90 billion to circumvent Western sanctions. The sanctioned platforms, including TokenSpot, Cryptomus, and Heleket, received hundreds of millions in funds from thousands of illicit counterparties and facilitated transactions for Russia's military expenditure.