The UK government has imposed financial sanctions on several cryptocurrency platforms, accusing them of facilitating Russia's circumvention of trade restrictions. The sanctions target 18 entities, including EXMO Exchange, Bitpapa, Rapira, and Nueva Cryptologia, which are alleged to have undermined Western trade restrictions by acting as alternative capital channels. British intelligence reports that the Kremlin-backed A7 payment network transferred over $90 billion through digital channels last year, supporting military procurement and capital transfers related to Russian oil exports. The sanctions include a global asset freeze, a ban on banking and transaction processing, and prohibit British financial institutions from interacting with the designated entities. The measures also affect entities in Kyrgyzstan, Georgia, Panama, and the UAE.