LONDON, May 26 -- The government of the United Kingdom issued the following news:
* UK ramps up pressure on Putin's war machinewith tough new sanctions, targeting crypto networks used to bypass Britain'ssanctions.
* New sanctionsalsohit the Kremlin-backed A7 network,which activelyexploits Kyrgyzstan'sfinancial systemsto channel fundsinto Russia'swar economy.
* The UK is leading the international effort and adaptingitssanctions to stay ahead of Russian evasion, shutting down the payment routes fuelling its warmachine against Ukraine.
Crypto and illicit finance networks exploited by Russia to circumvent UK sanctions are being targeted today as the government ramps up pressure on Putin's war machine to support Ukraine.
Putin's regime is increasingly feeling the pressure on the economy from sanctions, and on the battlefield from Ukraine. This month [May 2026], Russia slashed its economic growth forecast for this year from 1.3% to just0.4%, andhalved its forecast for 2027.
As existing sanctions continue to bite, the Kremlin has increasingly turned to dark networks and shadow financial systems to bypass legal restrictions. Today's action shows the UK ismovingfaster and further than everbefore toclamp down on these routes and adapt its approach to stay ahead of Russian evasion tactics.
The UK has today announced a new package of sanctions targeting cryptocurrency exchanges and the 'A7 network', used by Russia to evade existing restrictions and channel funds tofuelits barbaric war against Ukraine. These sanctions will come into force immediately.
Foreign Secretary, Yvette Cooper said:
If the Kremlin thinks it canevadeour 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.
TheA7 networkis a Kremlin-backed system designed to bypass Western sanctions,financemilitary procurement,and process funds from the sale ofoiltofund its wareconomy.The network claimed to have movedmore than$90 billion last year - equivalent toroughlyhalfof Russia's yearly military expenditure.
Today's package of18designationsdirectly targets Russia's illicit financial infrastructure used to move funds,procuregoods, and sustain its war.
New measuresalsohitkey A7-linkedindividuals. This gang is using a Kyrgyz bank suspected offacilitatingpayments for the network, alongsidea major global cryptocurrency exchange that we suspect has channelled over $1.5 billionback into the Kremlin's hands.We are also targeting 3 Georgian companies operating Russia focused exchanges seeking to evade sanctions.
Russia's unprovoked and illegal invasion of Ukraineand continued strikes hitting innocent civilians and vital infrastructure hasshatteredpeace in Europe. A threat to European security is a threat to our security at home, but through UK sanctions we are severing Putin's access to vital cashflows and sending a clear message that the UK stands firmly in defence of our shared values and Britain's safety and stability.
Today'sannouncementsmarksa further step in the UK's sustained effort to erode Russia's ability to fund its illegal full scale invasion, ramping up pressure on Putin's war chest. To date the UKhas sanctioned over 3,300 individuals,businessesand ships meaning Russia's war economy is creaking - having lost over $450 billion due to international sanctions, the equivalent of two years of funding for Putin's illegal war.
As Russiaseeksto expand these financial networks globally, the UK is leading efforts to disrupt them, working with allies to protect the integrity of the international financial system and support Ukraine for as long as it takes.
As long asthe killing in Ukraine continues, the UK and its allies stand ready to ratchet up pressure onRussiaand will continue to strengthensanctionsat every opportunity.
Background
* view thefull List of Russia sanctions designations, 26 May 2026 - GOV.UK
* view the fullUK Sanctions List
Disclaimer: Curated by HT Syndication.
