President Volodymyr Zelenskyy approved the sweeping measures, which blacklist over 70 people and 60 companies accused of facilitating sanctions evasion.

The sanctioned entities include major Russian crypto miners, digital asset issuers, and payment intermediaries suspected of moving large volumes of capital to support Russia’s military and industrial sectors. A notable portion of these operations are believed to serve as conduits for transferring assets through decentralized platforms amid global financial restrictions.

Several foreign-based firms were also hit with penalties. Among them are Cyprus’s TokenTrust Holdings, Kazakhstan’s EXMO RBC, and UAE-based exchanges like AWX and Bitpapa—all previously sanctioned by the U.S. for similar activities. Ukrainian authorities accuse these companies of helping Russia convert cryptocurrencies into fiat currencies outside traditional financial systems.

According to the president’s office, one firm alone moved billions of dollars this year to benefit Russia’s defense sector. Officials say the reliance on crypto has grown as traditional banking routes become increasingly inaccessible to Russia.

The latest sanctions freeze assets and prohibit business dealings within Ukraine. Zelenskyy described the crackdown as both a national move and a coordinated response with allies, vowing to shut down any remaining loopholes.

The post Ukraine Targets Russia’s Crypto Lifeline with New Sanctions appeared first on Coindoo.

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Filed under: Bitcoin - @ July 7, 2025 6:15 am