Ukraine Targets Russian Crypto Networks in New Sanctions Push

Ukraine has escalated its financial warfare against Russia with a sweeping sanctions package targeting cryptocurrency networks allegedly facilitating Kremlin-backed transactions. President Volodymyr Zelenskyy confirmed the measures, developed with the National Bank of Ukraine, aim to disrupt billions in crypto flows supporting Russia's defense industry.

The July 6 action sanctions 60 companies and 73 individuals, including entities processing substantial wartime crypto transactions. "We're synchronizing these measures with EU and global partners," Zelenskyy stated, highlighting Moscow's growing reliance on digital assets as traditional banking channels constrict.

The MOVE reflects Kyiv's strategic focus on crypto's role in modern conflict finance. With Russia legalizing cross-border crypto payments in 2024, Ukrainian officials warn of sophisticated evasion tactics requiring coordinated international response.