The UK has imposed sanctions on 18 cryptocurrency platforms, banks, and financial networks accused of enabling the Kremlin-backed “A7” payment network to circumvent international economic restrictions.
Sanctions Target $90 Billion in Transactions
The sanctioned entities are alleged to have processed over $90 billion in 2025 to support Russia’s invasion of Ukraine.
A report by TRM Labs identified several targeted exchanges, including Huobi, Exmo Exchange, Bitpapa, and Rapira Group. Huobi alone reportedly facilitated over $4.9 billion in on-chain transactions to UK-sanctioned entities and the A7 network since 2021. Furthermore, $1.13 billion of these transactions occurred in the 14 months following the March 2025 shutdown of the Russian crypto exchange Garantex, with $838 million specifically directed to the A7 network last year.
Crypto Activity Shifted After Garantex Closure
TRM’s findings indicate that Russian-linked crypto activity did not diminish after the closure of Garantex. Instead, it migrated to successor exchanges and payment platforms such as Rapira, Aifory Pro, Grinex.io, and ABCex. Exmo Exchange is reported to have directly transacted over $19.5 million with sanctioned entities like Garantex and Chatex, while BitPapa also transferred millions to these actors.
The report highlights that Rapira moved over $543 million, including $375.6 million tied to Grinex.io. Aifory Pro transferred over $189 million, with $175.2 million attributed to ABCex. ABCex itself recorded $355 million in transactions across the restricted firms, sending $175.2 million to Aifory Pro, $133.4 million to Garantex, and $38.1 million to Rapira.
UK Adds Entities to Consolidated List
The UK government has added all 18 sanctioned entities to the UK Consolidated List. Businesses operating in the country are now required to freeze any assets connected to these entities and block transactions involving the listed companies.
“If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken,” stated Foreign Secretary Yvette Cooper. She added that the restrictions aim to cut off the financial flows supporting Putin’s war in Ukraine.
Sanctions Extend to Individuals
The new measures also target individuals linked to the A7 network. The government’s report indicates that the group is backed by a Kyrgyz bank suspected of processing payments within the system, along with a major global crypto exchange believed to have transferred over $1.5 billion back into Kremlin-linked financial channels.
Illicit Crypto Activity Increased
A separate analysis by TRM Labs revealed a sharp increase in illicit crypto activity last year, with most of it related to Russian-linked trades. The A7 network’s A7A5 token contributed $72 billion worth of trades, while the group’s own wallets accounted for another $39 billion. Most of this money reportedly flowed through Garantex and Grinex.
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