The President of Ukraine, Volodymyr Zelensky, has signed a new package of sanctions targeting 60 legal entities and 73 citizens of the Russian Federation. This decision particularly focuses on combating financial schemes that use cryptocurrencies to benefit the Russian defense industry.
This is reported by Finway
New Sanctions – A Response to Crypto Operations for the Military Sector
As noted by the Head of State, the preparation of the sanctions involved the participation of the National Bank of Ukraine. The main goal is to deliver a powerful blow to Russia’s military economy. According to Volodymyr Zelensky, one of the companies on the sanctions list has conducted operations worth several billion dollars since the beginning of 2024, primarily in the interests of the defense sector. After the blocking of traditional financial channels, Russia is actively using crypto assets to circumvent sanctions.
“The goal of the sanctions is to maximize the limitation of Russia’s potential and force the Kremlin to stop the war.”
Synchronization of Sanctions with the EU and Integration into European Legislation
Ukraine continues to collaborate with international partners, including the European Union and other key jurisdictions, to ensure the consistency of restrictive measures. According to Volodymyr Zelensky, the new sanctions package not only responds to current threats but also represents a step towards full integration of sanctions decisions into the EU legal system. Next week, Ukrainian authorities plan to prepare proposals for adapting EU sanctions to national legislation.
It was previously reported that the United States has also imposed sanctions against the Russian Aeza Group for supporting cybercriminal activities.