Britain has announced fresh sanctions targeting cryptocurrency exchanges, financial networks and banks accused of helping Russia evade Western restrictions imposed after the invasion of Ukraine.
The new sanctions package freezes assets and prohibits UK businesses from processing payments or maintaining banking relationships with the organisations and individuals named.
British officials said the measures were designed to disrupt what they described as “shadow financial systems” allegedly used to move money, finance procurement and bypass sanctions introduced against Russia since the start of the war in Ukraine.
Among the most significant targets is the Kremlin-backed A7 financial network, which the British government says helped channel funds through overseas banking systems to support Russia’s economy and military-linked activity.
The sanctions also cover cryptocurrency exchanges, financial firms and individuals connected to Russia-focused financial operations in countries including Kyrgyzstan, Georgia and the United Arab Emirates.
British Foreign Secretary Yvette Cooper said the government would continue coordinating with international partners to identify and shut down financial structures supporting Moscow’s war effort.
She said Britain would act “fast and decisively” to expose and dismantle networks enabling Russia’s aggression.
Among those sanctioned is HTX, one of the world’s largest cryptocurrency exchanges, formerly known as Huobi.
According to the UK sanctions list, the platform was involved in providing financial resources, technology or services linked to Russia’s financial sector.
A spokesperson for HTX said the company complied with regulatory requirements in every jurisdiction where it operated and described compliance as a top priority.
The latest measures come as British authorities intensify scrutiny of cryptocurrency firms amid concerns that digital assets are being used to bypass sanctions and move funds across borders.
Last year, the Financial Conduct Authority launched legal action against HTX, accusing the exchange of unlawfully promoting cryptoasset services to British consumers.
Russia’s embassy in London condemned the sanctions, calling them “unlawful and futile” and arguing that Russia had adapted to external economic pressure.
The announcement came less than a week after Britain delayed a planned ban on imports of diesel and jet fuel refined from Russian crude in third countries, saying a phased approach was needed to limit disruption to fuel supplies.
Western governments have steadily expanded sanctions against Russia since the full-scale invasion of Ukraine, targeting banks, energy exports, oligarchs and financial institutions in an effort to weaken Moscow’s ability to finance the war.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Fore...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know....
As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, ...
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, ...
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of ...
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, football officials and even a FIFA-appointed referee to attend. It's raised a lot of questions about access to such a high-profile global event.
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, since primary school. Their families have rearranged their lives around it.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, since primary school. Their families have rearranged their lives around it.
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of colonialism and disputed ownership.
Uganda’s health ministry has raised concerns over what it described as unfair travel restrictions imposed during the current Ebola outbreak, warning that such measures risk undermining transparent reporting. .
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, tighter controls on foreign students and expanded investigative powers for the migration authorities.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment