UK targets Russian sanctions evasion through crypto and illicit finance networks
By
@appgonacrt.bsky.social
Right out the toaster. Reliable, with some real depth.
Summary
The UK government is introducing tough new measures targeting crypto and illicit finance networks used by Russia to evade sanctions. As existing sanctions pressure Putin's economy (with Russia slashing its 2026 growth forecast from 1.3% to 0.4%), the Kremlin has increasingly turned to shadow financial systems to bypass restrictions. The new measures aim to close these loopholes and further restrict Russia's ability to fund its war machine in Ukraine.
Key quotes
· 3 pulledCrypto and illicit finance networks exploited by Russia to circumvent UK sanctions are being targeted today as the government ramps up pressure on Putin's war machine to support Ukraine.
Putin's regime is increasingly feeling the pressure on the economy from sanctions, and on the battlefield from Ukraine.
As existing sanctions continue to bite, the Kremlin has increasingly turned to dark networks and shadow financial systems to bypass legal restriction
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