Ukraine Sanctions Russian Crypto Networks in Major Crackdown on War Financing

Ukraine threw out a precise strike on a dozen crypto operatives who supported Russian, freezing property of 60 companies and 73 people suspected of allowing the war of Moscow to digital finances.

President Volodymyr Zelenskyy signed decree On Sunday, freezing property and sanctioning economic activity for companies and individuals who are allegedly related to Russian financial schemes, and many include cryptocurrencies.

Zelenskyy called it a “special sanction package”, which also targets wider Russian financial infrastructure, including manufacturers of payment equipment and intermediaries for international transactions.

“Only through a single company-which is now involved in the sanctions list, and only from the beginning of this year, that is, before the sanctions were imposed on, they handed over a few billion dollars, primarily for the needs of their military-industrial complex,” Zelenskyy said on Sunday. “Of course, we’ll turn off all such schemes.”

Sanctions indicate a growing alarm over how Russia, cut off from a large part of the global financial system, increasingly exploit cryptocurrencies to maintain its war effort.

The Regulation, introduced at the initiative of the Ukrainian National Bank, targets the 19 largest Russian cryptocurrency miners, 17 digital assets operators and five crypto stock exchanges involved in the sanctions of the Utaje.

The LLC A7, a sanctioned company, published a stable tree in February with lands with the aim of cross -border transactions.

Other blacklist entities include United Financial Technologies and Bifit, Software Provider for Russian Banks in Santions, Vladyslav Vlasuk, Commissioner Zelenskyy for Sanction Policy, published on Facebook.

Five foreign companies have also been sanctioned, including tokentrust Holdings (Cyprus) and Exmo RBC LTD, operator exmo.me Excle.me-A active in Russia, Belarus and Kazakhstan.

Companies based in the UAE AWX Solutions, Crypto Explorer and Batapa, already under US sanctions, were on a black list to facilitate the crypto transaction for Russian users.

Last year, Director of Lallage for Intelligence Solutions Valerie Kennedy said Russia is “The loudest and perhaps the best -selling country” using cryptocurrencies for sanctions skirts, citing hidden services not -Kyc -a new national laws that facilitate settlement crypto.

Blockchain Analytical Company reported in February that jurisdiction had been sanctioned received $ 15.8 billion in cryptocurrencies In 2024, about 39% of all illegal streams, and Russia, Iran and North Korea led the package.

The recent report of the Financial Action Working Group (FATF) and Blockchain investigators also warned that cryptocurrency enables sanctioned states such as Russia, Iran and North Korea To finance the weapon programproduction of drones and cyber surgery.

The last breakthrough comes in the midst of increased tension on the battlefield, as both sides escalate military and economic pressure in what has become ground war for exhaustion, as well as by recent media reports.

Last week, Russian forces have increased the attacks along the front of the cover and Kupyansk, while Ukraine has increased the long -term strikes targeted on military infrastructure within the Russian territory.

Ukrainian officials also warned of increased Russian drones and rocket attacks on the Kharkiv and Sumy region, adding to fear of the new striker.