The United Kingdom imposed sanctions on the Kyrgyzstan financial sector and crypto networks allegedly used by Russia to miss western restrictions, targeting an alleged $ 9.3 billion operation supported by Stablecoin.
New steps make up more than 2,700 existing UK penalties against Russia and follow a similar move last week by the United States, the UK government Says In a Wednesday announcement.
Among those punished were the Capital Bank of Central Asia and its director, Kanemir Chalbayev, claimed by the UK that Russia used to supply military goods. Two exchanges of Kyrgyz Crypto, Grinex and Meer, are also -Blacklist, along with creatures tied to infrastructure that supports A7A5 Stablecoin.
According to the UK government, A7A5 processes $ 9.3 billion worth of transactions in just four months. Designed to mimic the ruble onchain, the token is described as a direct attempt to break the western penalties.
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UK targets more crypto players
The list of punished creatures includes Luxembourg based on Altair Holding, CJSC Tengricoin, Old Vector, A7A5 director Leonid Shumakov and some individuals linked to the network.
“If the Kremlin thinks they can hide their desperate attempt to soften the blow of our penalties through laundering transactions through the Dodgy Crypto network – they are very mistaken,” the penalty minister Stephen Doughty said.
As reported, Grinex is wide viewed as an alternative to the punished Garatex Platform. The exchange is allegedly -credited to the balance of the punished Garatex users, which was hit by a $ 27 million USDT Freeze by Tether In March.
Last week, the Foreign Assets Control (OFAC) office of the US Treasury’s Office of Foreign Assets Control (OFAC). This Grinex also punished.
Related: EU penalties are crypto entities for election interference, disinformation
Kyrgyz president denies penalties in the UK
On Thursday, President Kyrgyz Sadyr Japarov again pushed against London’s decision, warning against politicizing the economy, According to In a Reuters report. He denied that any of the country’s 21 banks were helping the Russian skirt penalties.
“To avoid any of these falling under the penalties, we concluded that the State-owned Keremet bank would work with the Russian ruble,” Japarov said. The Keremet Bank was punished by Washington earlier this year for serving as a hub for trade payments in Russia.
Japarov maintains that Kyrgyzstan is ready to comply with international obligations. “I will not allow the interests of our citizens and the trade and development of the country’s economy to be reduced to nothing,” he said.
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