The United Kingdom has expanded its sanctions regime targeting Russia by adding eight new designations, including individuals and entities involved in circumventing Western sanctions through financial and cryptocurrency networks based in Kyrgyzstan. Among the targeted are the Grinex and Meer cryptocurrency exchanges linked to the rouble-backed crypto token A7A5. These measures aim to disrupt Russia's use of crypto networks to fund its military efforts amid the ongoing conflict in Ukraine. The UK government has emphasized accountability for networks exploited by Russia to bypass sanctions. In a related development, the UK also imposed sanctions on Iranian oil magnate Hossein Shamkhani and four companies within his oil trading network, freezing their assets due to their support for Tehran's destabilizing activities. Kyrgyzstan has appealed to US and UK leaders regarding the sanctions on its crypto networks. Additionally, Russia has barred 21 individuals accused of spreading disinformation in UK media, further escalating tensions between the two countries.
The UK sanctioned an Iranian business magnate and several key firms in his influential oil trading network https://t.co/4yO1W8HvaK
The former owner of the UK’s Lindsey oil refinery is facing a UK lawsuit over potential “irregularities” tied to the financial affairs of his now-failed business empire. #oott https://t.co/kYAEtvtT1T
🇬🇧 UK sanctions Iranian oil magnate Hossein Shamkhani and four firms for supporting Tehran's destabilizing activities. Asset freeze in effect! #Sanctions #Iran #GlobalSecurity https://t.co/ZzHmOF79ll