On May 26, the UK announced a new package of sanctions against crypto networks that help Russia finance the war and circumvent existing British restrictions. It comes into force immediately, according to the British government website.
Due to sanctions, Russia is forced to turn to shadow financial systems, so the British government is cutting off these routes and introducing restrictions against cryptocurrency exchanges and the A7 network. The latter, according to the government, is used to finance military purchases and process funds from oil sales. In 2025, more than $90 billion could be transferred through it, which is approximately half of the Russian Federation’s annual military spending.
Sanctions are also being imposed against persons associated with “A7”. According to London, the network used a Kyrgyz bank to process payments and a global crypto exchange, through which more than $1.5 billion could have flowed to the Kremlin. Three Georgian companies that operated Russian-oriented exchanges were also subject to restrictions.
British authorities said they have now imposed restrictions on more than 3,300 individuals, companies and vessels.
“This means that the Russian military economy is bursting at the seams: due to international sanctions, it has lost more than $450 billion, which is equal to two years of financing Putin’s illegal war. In May 2026, Russia lowered its economic growth forecast for this year from 1.3% to just 0.4%, and halved its forecast for 2027,” the press service notes.
