The United Kingdom has sanctioned three cryptocurrency exchanges and two payment platforms over alleged links to Russian sanctions evasion, in an action targeting financial channels connected to the Kremlin-backed A7 network. The designations are the latest Western move against the financial infrastructure allegedly used to help Russia circumvent restrictions.

The A7 network is accused of helping Russian entities bypass Western restrictions. Two of the sanctioned payment services allegedly facilitated transactions involving it. The UK government said the measures were intended to make it harder for sanctioned entities to move and access funds. Under the UK sanctions framework, a designation generally freezes assets a listed entity holds in the UK and bars UK persons from dealing with it.

Kyrgyzstan-Linked Platforms and Chainalysis Findings

The sanctions also target cryptocurrency platforms linked to Kyrgyzstan, including TokenSpot. Blockchain analytics firm Chainalysis found that TokenSpot, alongside exchanges Grinex and Meer, received more than $308 million from the same deposit address on the HTX exchange. Findings of this kind come from on-chain analysis, in which analysts trace wallet activity recorded on public blockchains to map how funds move between services.

Chainalysis also identified suspicious activity involving the sanctioned payment processors Cryptomus and Heleket. According to its findings, the two processors received funds from thousands of illicit counterparties, with the number reaching 900 entities in a single month in late 2025.

$90 Billion in Claimed Transfers

The A7 network claimed to have transferred more than $90 billion in 2025, an amount equivalent to nearly half of Russia's annual military expenditure, according to the UK Foreign, Commonwealth & Development Office (FCDO). The figure refers to transfers claimed by the network itself.

Targeting Infrastructure Rather Than Individual Transactions

The measures highlight growing Western efforts to disrupt the financial infrastructure supporting Russia's ability to circumvent sanctions. Rather than targeting individual transactions alone, the action seeks to restrict access to the exchanges and payment providers that can facilitate the movement of funds across borders.

A7A5 Stablecoin Keeps Processing Volumes

The crackdown comes as the ruble-backed A7A5 stablecoin, associated with the A7 ecosystem, continues to process substantial on-chain volumes despite Western restrictions. Stablecoins are tokens designed to track the value of a reference asset, and they settle transfers directly on public blockchains. Blockchain security firm CertiK previously reported that the token had processed more than $110 billion in cumulative on-chain transactions by June 2026.

The latest designations underscore the challenges facing sanctions enforcement, as Russia-linked networks combine cryptocurrency exchanges, stablecoins, and conventional payment services to maintain access to international financial channels. They also reflect the difficulty of policing activity that spans both on-chain instruments, such as stablecoins, and conventional payment services.

Source: BitcoinKE