Ukrainian President Volodymyr Zelensky has signed a new package of sanctions aimed at countering Russian financial schemes involving cryptocurrencies. The list includes 60 companies and 73 Russian citizens who, according to the authorities, are involved in supporting Russia’s defense sector through digital assets.
This is reported by Business • Media
Sanctions Against Cryptocurrency Schemes for Russia’s Military Economy
According to the head of state, the new package of measures was developed with the participation of the National Bank of Ukraine and aims to deliver a significant blow to Russia’s military economy. Special emphasis has been placed on companies that have conducted transactions worth billions of dollars since the beginning of 2024 specifically for the needs of Russia’s military-industrial complex. After traditional financial channels were blocked, Russia began to use crypto assets more actively to circumvent international restrictions.
Synchronization with International Partners and Future Integration
The Ukrainian authorities seek close cooperation with the European Union and other key international partners to synchronize sanction measures. Zelensky emphasized that the goal of the sanctions is to maximize the limitation of Russia’s potential and force the Kremlin to stop its aggression against Ukraine. Furthermore, in the coming week, the government plans to prepare proposals for the full integration of EU sanctions into national legislation, which will be a step towards future harmonization of sanction policies with European standards.
Zelensky emphasized that the goal of the sanctions is to “maximize the limitation of Russia’s potential and force the Kremlin to stop the war.”
It is worth noting that earlier, the United States imposed sanctions on Aeza Group from Russia for facilitating cybercrime, highlighting global attention to the abuse of cryptocurrencies in the context of financing criminal activities.