The UK has announced a new package of sanctions targeting cryptocurrency exchanges related to the Russian A7 cross-border payment platform.
A7 was launched by the Russian bank PSB (Bank PSB Public Joint-Stock Company) in 2024. Currently, A7 is a group of companies providing services for payments under foreign trade contracts around the world. The CEO of A7 is Moldovan businessman Ilan Shor, who is on the EU sanctions list.
Some media associate A7 with the A7A5 cryptocurrency, which was released in Kyrgyzstan. This is the first cryptocurrency in the world, the exchange rate of which is linked to the exchange rate of the Russian ruble.
“If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken. The UK is adapting and strengthening our approach to target the evolving tactics Russia is using to evade restrictions. We are going after the infrastructure that underpins its war economy at the same time as Ukraine is increasing the pressure on Russia on the battlefield,” said Foreign Secretary, Yvette Cooper.
New sanctions hit entities and persons linked to A7 network and crypto networks used to bypass Britain’s sanctions.
These entities and persons have been sanctioned:
- EXMO EXCHANGE LIMITED;
- ARVIX LIMITED LIABILITY COMPANY;
- RAPIRA GROUP LLC;
- ALISTERA LIMITED;
- SOOTY LTD;
- AIFORY LLC;
- BITPAPA IC FZC LLC;
- OPEN JOINT STOCK COMPANY “EURASIAN SAVINGS BANK”;
- LIMITED LIABILITY COMPANY “DIAMOND ESTATE”;
- TRACE ROAD LIMITED LIABILITY COMPANY;
- Igor Olegovich GORIN;
- Irina Rafaelyevna AKOPYAN;
- Sergey MENDELEEV;
- NUEVA CRYPTOLOGIA SOCIEDAD POR ACCIONES SIMPLIFICADA DE CAPITAL VARIABLE (S.A.S. DE C.V.);
- HUOBI GLOBAL S.A.;
- Liran COHEN;
- OPEN JOINT STOCK COMPANY “STATE BROKERAGE COMPANY”;
- OPEN JOINT STOCK COMPANY “VIRTUAL ASSET ISSUER”.
