The UK has taken a significant step in its efforts to counter Russian financial manipulation by imposing sanctions on key cryptocurrency networks.
The new package of sanctions targets cryptocurrency exchanges and the 'A7 network', which is used by Russia to evade existing restrictions, according to an emailed statement from the UK government.
The 18 designations include Huobi Global SA, Exmo Exchange, Eurasian Savings Bank, and Sergey Mendeleev, among others. This move aims to prevent the use of cryptocurrencies for sanctions evasion and support Ukraine in its ongoing conflict with Russia.