- ENG.UATV.UA - A La Une - 07/Jul 09:11

Zelenskyy Enacts Sweeping Sanctions to Disrupt Russian Crypto-Backed War Financing

Ukrainian President Volodymyr Zelenskyy has signed a new sanctions package aimed at dismantling covert Russian financial networks, including those using cryptocurrency to circumvent international restrictions and fund the Kremlin’s war machine, Ukrinform reports. In a public address, Zelenskyy called the measures “special sanctions” based on a proposal by the National Bank of Ukraine and emphasized their role in crippling Russia’s alternative financial lifelines. “I’ve just signed a new sanctions package – these are targeted measures against numerous Russian financial operations, particularly in the crypto sector,” Zelenskyy said. “They are designed to halt schemes that help sustain Russia’s military capabilities.” The president described the package as both a national initiative and part of broader coordination with Ukraine’s international partners.  He revealed that just one blacklisted Russian company had moved several billion U.S. dollars through its operations since the beginning of 2025 with most of the funds used to support Russia’s defense industry. “With many conventional financial pathways now blocked, Russia has increasingly turned to cryptocurrency-based transactions. We are committed to shutting down these mechanisms,” Zelenskyy noted. The sanctions target 60 legal entities and 73 individuals – all Russian nationals. Zelenskyy stressed that Ukraine would work closely with the European Union, the United States, and other jurisdictions to harmonize punitive measures. “Each sanctioned entity will be matched with parallel restrictions by our partners. This work is complex, as legal standards differ, but our shared goal is clear: to pressure Russia into ending the war and to systematically degrade its capacity to wage it,” he said. Zelenskyy also highlighted that sanctions are already inflicting long-term damage on Russia’s future and are intended to make its financial operations increasingly unmanageable. The post Zelenskyy Enacts Sweeping Sanctions to Disrupt Russian Crypto-Backed War Financing appeared first on Freedom.