The UK has imposed new sanctions on networks that help Russia circumvent restrictions
On May 26, the United Kingdom announced a new package of sanctions against entities that help Russia circumvent international restrictions, particularly through cryptocurrency and shadow banking schemes.
This was announced by the UK government.
The new package includes 18 sanctions targeting the illicit financial infrastructure that Moscow uses to move funds, purchase goods, and support the war.
Among those targeted by the sanctions is the Kremlin-linked A7 network, which, according to British authorities, uses Kyrgyzstan’s financial system to transfer funds to the Russian military economy.
Restrictions were also imposed on three Georgian companies that operate exchanges targeting Russian clients and, according to London, facilitate the circumvention of sanctions.
“If the Kremlin believes it can evade our sanctions by hiding behind cryptocurrency networks and shadow financial systems, it is deeply mistaken,” said British Home Secretary Yvette Cooper.
The European Union plans to temporarily ease sanctions against a Chinese semiconductor manufacturer. According to media reports, this decision is being considered to support and protect Europe’s automotive industry, which relies on chip supplies.
The EU is changing its procurement rules to reduce dependence on China.
