UK Targets 'Shadow Financial Systems' in New Sanctions on Russia-Linked Entities

The UK has taken a significant step in its efforts to counter Russian economic aggression by imposing new sanctions on several entities and individuals linked to cryptocurrency platforms, banks, and financial networks.

According to the British government, these targets are part of 'shadow financial systems' that support Russia's war economy. The measures aim to disrupt these networks and prevent them from evading international restrictions.

The list of sanctioned entities includes 18 individuals and organizations, including Huobi Global S.A., one of the world's largest cryptocurrency exchanges, which is now operating under the name HTX.