Ukraine Targets Russian Crypto Schemes in New Sanctions Package

Ukraine has imposed fresh sanctions targeting 60 companies and 73 individuals linked to Russia's military-industrial complex, with a focus on cryptocurrency-based financial operations. President Volodymyr Zelenskiy emphasized these measures aim to disrupt billions in defense sector transactions conducted through digital assets.

The sanctions package, developed with Ukraine's National Bank, reflects Moscow's growing reliance on crypto networks after traditional payment channels were blocked. One sanctioned entity alone facilitated multi-billion dollar transactions for Russia's defense industry in 2024.

Kyiv plans to coordinate these restrictions with EU partners and other jurisdictions, seeking to maximize pressure on Russia's war economy. The MOVE signals increased scrutiny of cryptocurrency's role in geopolitical conflicts as nations weaponize financial infrastructure.