Breaking News: Ukraine’s President Volodymyr Zelenskyy has signed a decree imposing sanctions on 60 companies and 73 individuals linked to Russia’s sneaky crypto evasion tactics!
That’s right, folks! The Ukrainian government is cracking down on those pesky Russians who thought they could bypass financial restrictions through the magic of digital currency. And guess what? They’re not just targeting Russian-based companies – they’re also going after foreign firms involved in these shady schemes.
Ukraine Sanctions Target Crypto Networks Supporting Russia
According to local media reports, the decision freezes the assets of the involved parties in Ukraine and prohibits them from engaging in economic activities within the country. President Zelenskyy said, “I have just signed a new sanctions package – and these are special sanctions targeting numerous Russian financial schemes, particularly cryptocurrency-related ones.”
“We will shut down all such schemes. Right now, with many of Russia’s traditional financial channels blocked, they are increasingly shifting to cryptocurrency transactions,” the President added.
The latest decree impacts 55 companies based in Russia, including 19 cryptocurrency miners, 17 digital financial asset information system operators, and 19 companies in Russia’s financial infrastructure. Additionally, the list included five crypto exchange operators as well.
The President also sanctioned several foreign companies, including TOKENTRUST HOLDINGS LIMITED from Cyprus, EXMO RBC LTD from Kazakhstan, and three entities from the UAE. The report further noted that some of these companies are already under US sanctions.
In addition to the companies, the decree sanctions 73 individuals, including executives and owners of the targeted firms, as well as officials from the Central Bank of Russia.
The President also mentioned that Ukraine will introduce new measures next week to align with EU sanctions. This will ensure that the country effectively enforces all European sanctions packages against Russia.
The sanctions reflect growing concerns about the use of cryptocurrencies in geopolitical conflicts. Digital assets, valued for their anonymity and decentralized nature, have become an attractive tool for circumventing traditional financial restrictions. In fact, crypto has also gained traction as an espionage tool. BeInCrypto reported that previously, Israel had arrested several individuals suspected of spying for Iran in exchange for crypto payments.
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2025-07-07 11:11