Story perspectives

UK Sanctions 18 Over $1.5B Crypto Transfers to Russia

5/27/2026

Summary

UK Sanctions Russia

On 26 May 2026 the United Kingdom sanctioned 18 individuals and entities, freezing their UK-linked assets.
The sanctions include crypto exchange Huobi Global S.A. and four individuals for moving $1.5 billion to the Kremlin, while the A7 network transferred over $90 billion, half of Russia’s defence spending.
Foreign Secretary Yvette Cooper said the measures aim to deny Russia $450 billion in war funding and will give no safe haven to its supporters.

Summary

A7 Sanctioned

Sanctions target A7's technical infrastructure, including its A7A5 token, to disrupt settlement operations.
The A7 network runs the ruble-backed token A7A5 and acts as a cross-border settlement platform linked to lender Promsvyazbank.
Crypto analysts say the network routes stablecoin and token flows through Central Asia and the Caucasus to bypass banking checks.
Journalistic probes found A7-connected wallets handle a large share of cross-border transfers for sanctioned oligarchs and state-linked businesses.

Summary

UK Postpones Ban

Kyrgyzstan's Ministry of Justice suspended 50 companies and added a bank, firms in Georgia and the UAE, and A7-linked individuals to sanctions list.
UK postponed a ban on diesel and jet fuel refined from Russian crude in third countries, calling it a phased approach.
British Foreign Secretary Yvette Cooper said the UK will act quickly to expose and dismantle financial systems, noting Central Asia as a key sanctions-evasion conduit.

Summary

UK Permits LNG

Critics condemned the United Kingdom for permitting LNG imports from two Russian terminals days before sanctions.
The Centre for Information Resilience called the A7 network a political and commercial enterprise enabling sanctions evasion.
The United Kingdom also allowed diesel and jet fuel refined from sanctioned Russian crude in third-party countries, sparking backlash.
Cooper said the Kingdom is leading the effort to shut down payment routes funding Russia’s war machine.

History

Historical Context

After Russia annexed Crimea in early 2014, the United States and the European Union froze about €1.5 billion in assets, targeting banks such as VTB, energy firms like Rosneft, and oligarch Oleg Deripaska. That sanctions framework now underpins the UK’s 2024 crackdown on crypto channels, which aims to block $450 billion of war-funding flows across Central Asia and the Caucasus.

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UK Sanctions Russia

On 26 May 2026 the United Kingdom sanctioned 18 individuals and entities, freezing their UK-linked assets.
The sanctions include crypto exchange Huobi Global S.A. and four individuals for moving $1.5 billion to the Kremlin, while the A7 network transferred over $90 billion, half of Russia’s defence spending.
Foreign Secretary Yvette Cooper said the measures aim to deny Russia $450 billion in war funding and will give no safe haven to its supporters.

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