The National Security and Defence Council of Ukraine has imposed sanctions against russian cryptocurrency schemes

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Date

06 Jul 2025


This is stated in a decree published on the website of the Office of the President.

 

Sanctions have been imposed on 60 companies, 55 of which are residents of the Russian Federation.

 

According to Vladislav Vlasyuk, the President's Advisor on Sanctions Policy:
19 of the sanctioned companies are the largest miners who create schemes to circumvent sanctions through cryptocurrency
17 operators of information systems for the issuance of digital financial assets, some of which are already under US sanctions.
19 Russian financial infrastructure companies: manufacturers of payment equipment, organisers of blocked asset exchanges, intermediaries for international payments under sanctions.
5 operating companies of crypto exchanges involved in circumventing sanctions.

 

Five non-Russian companies are helping Russia circumvent sanctions, some of which are under US sanctions:
TOKENTRUST HOLDINGS LIMITED (Cyprus) — under US sanctions since 25 March 2024;
EKSMO RBC LTD (Kazakhstan) — operator of the EXMO.me crypto exchange, operating in the Russian, Belarusian and Kazakh markets, involved in circumventing sanctions:
AWX Solutions FZ-LLC (UAE) — manages the AWX.pro (formerly AWEX) crypto exchange, under US sanctions;
Crypto Explorer DMCC (UAE) — under US sanctions, manages the AWEX exchange, converts cryptocurrencies, roubles and UAE dirhams;
Bitpapa IC FZC LLC (UAE) — under US sanctions, a peer-to-peer cryptocurrency exchange focused on Russian users.

 

Sanctions have also been imposed on 73 individuals who are managers and owners of sanctioned companies and officials of the Central Bank of the Russian Federation.

 

A detailed list can be found in the NSDC list. The sanctions include asset freezes and a ban on economic activity in Ukraine.

 

‘This is both synchronisation with our partners and our initiative. Through just one company (according to EP information – LLC ’A7"), which is now on the sanctions list, and only since the beginning of this year, i.e. before the sanctions, the Russians have spent several billion dollars, mainly for the needs of their military industry. Of course, we will stop all schemes. Now that the usual financial channels for Russia are blocked in many places, they are switching to cryptocurrency payments, among other things," Zelensky commented on the introduction of sanctions.

 

Source: Economic Pravda, Official website of the President of Ukraine