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The UK has imposed new sanctions on several cryptocurrency trading platforms, accusing them of assisting Russia in bypassing trade restrictions.
Those blacklisted include platforms such as EXMO Exchange, Bitpapa, Rapira, and Nueva Cryptologia.
The UK stated that these platforms are connected to the Kremlin-backed "A7" payment network, which reportedly handled over $90 billion in fund flows last year, used for Russian oil export settlements and military procurement financing.
The new sanctions include global asset freezes, bans on UK financial institutions providing services, and restrictions on the operation channels of related platforms in multiple countries.
Involved regions also include transit jurisdictions such as Kyrgyzstan, Georgia, Panama, and the UAE.
The UK government said this move aims to cut off Russia's "shadow financial infrastructure" that uses cryptocurrencies for cross-border payments and sanctions evasion.