Key facts
- The U.K. imposed 38 new sanctions listings on Oct. 8.
- Sanctions target ships aiding Russia's evasion of sanctions and companies in its military-industrial and crypto sectors.
- Xeltox Enterprises, owner of Cryptomus, was sanctioned for operating in Russia's financial services sector.
- The A7 network, a Kremlin-backed system, was targeted for channeling funds to Russia's war economy.
- 12 ships were added to the U.K.'s sanctioned vessels list, bringing the total to 645.
- The total number of Russia sanctions by the U.K. has reached 3,537.
Britain's Foreign Office announced 38 new sanctions on Thursday targeting individuals and entities involved in the production or transport of Russian oil, facilitating military manufacturing, and circumventing financial services sanctions. The measures are part of Britain's effort to squeeze Russia's ability to fund and equip its war in Ukraine.
Among the newly sanctioned entities is Xeltox Enterprises, the owner of the cryptocurrency company Cryptomus, which the U.K. government stated has been involved in supporting the Russian government by operating in the strategic financial services sector. Russia has increasingly relied on cryptocurrency to circumvent global sanctions.
The U.K. also added 12 ships to its list of sanctioned vessels, bringing the total to 645. These vessels are accused of being part of Russia's "shadow fleet," used to evade price caps and trade bans on oil and gas. The total number of individuals, entities, and ships sanctioned by the U.K. against Russia now stands at 3,537.
Additionally, the U.K. targeted the Kremlin-backed A7 network, accused of exploiting Kyrgyzstan's financial systems to channel funds into Russia's war economy. The sanctions package also includes key individuals linked to the A7 network, a Kyrgyz bank suspected of facilitating payments, and three Georgian companies operating Russia-focused exchanges.
Foreign Secretary Yvette Cooper stated that the U.K. is adapting its approach to target evolving Russian evasion tactics and shut down financial lifelines sustaining the war.