The United Kingdom has announced new sanctions against crypto exchanges and payment platforms that it suspects of helping Russia move money around international financial restrictions. The measures were announced on October 8 as part of a wider package targeting 38 individuals and organisations linked to Russia’s oil trade, financial networks and military supply chains.
The crypto-related action includes platforms linked to Kyrgyzstan and businesses connected to the A7 financial network. The UK says these measures are intended to make it harder for people and organisations under sanctions to move and access funds.
The targeted crypto-related businesses include Cryptomus, Heleket, VexPay and TokenSpot. Tsunami Payments, a payment service, was also included in the latest action. According to the UK sanctions notice, Cryptomus and Heleket are linked to Xeltox Enterprises Ltd, VexPay to OJSC Processing KG, and TokenSpot to TokenSpot CJSC.
Source: gov.uk
British authorities suspect that some of these platforms have helped Russia get around existing sanctions. Two of the targeted entities have also processed or helped facilitate transactions involving the A7 network, which the UK describes as an illicit financial network.
The A7 network is a major focus of the latest action. The UK says the network is backed by the Kremlin and helps move money outside the normal financial system. The network claimed last year that it had moved more than $90 billion. The British government said this amount was roughly half of Russia’s annual military spending.
The new sanctions are part of a wider effort to restrict financial channels that the UK believes are being used to support Russia. However, the package goes beyond cryptocurrency and payment services.
The UK has also sanctioned two Russian oil companies, Zarubezhneft and INK Capital. The government said the action aims to reduce Russia’s oil revenues and limit ways in which sanctioned oil businesses can continue operating.
Another 12 oil tankers have been added to the UK’s sanctions list. This takes the number of sanctioned vessels to more than 600. British authorities say many of these ships are part of Russia’s so-called shadow fleet. They are accused of using methods such as false flags and misleading shipping practices to transport Russian oil while avoiding sanctions.
The package also targets 17 more individuals and organisations accused of supplying goods that Russia may use in its war effort. These include machine tools, electronic equipment and materials used to produce missiles and drones. The UK says some of these goods are routed through third countries to hide their connection to Russia.
The latest measures build on earlier British action against crypto networks linked to Russia. In May 2026, the UK sanctioned the A7 network and several related entities. It had also targeted Kyrgyzstan-linked crypto businesses in 2025, including Grinex and Old Vector, which were linked to infrastructure behind the A7A5 rouble-pegged stablecoin.
The latest announcement shows that the UK is continuing to focus on the financial services and businesses it believes help Russia bypass international sanctions.
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