UK adds 18 designations targeting Russia-linked crypto exchanges and financial intermediaries

On May 26, 2026 the UK's Foreign, Commonwealth & Development Office added 18 designations under the Russia (Sanctions) (EU Exit) Regulations 2019, targeting the financial and crypto infrastructure used to support Russia and evade sanctions. The FCDO said the package directly targets Russia's illicit financial infrastructure, including the so-called A7 network the UK describes as a Kremlin-backed system to bypass Western sanctions and finance military procurement. The designations covered cryptocurrency platforms, financial entities and individuals. Named crypto exchanges include EXMO Exchange Limited, Bitpapa IC FZC LLC and Huobi Global S.A., the latter described by the UK as suspected of channelling large sums to support Russia.

Financial entities named include 'Eurasian Savings Bank' and a 'State Brokerage Company,' alongside resource providers making funds or technology available to the Russian financial sector, including Nueva Cryptologia (ABCex). Designated individuals include Igor Olegovich Gorin, Irina Rafaelyevna Akopyan, Sergey Mendeleev and Liran Cohen. The package also reached entities of economic significance, including a 'Virtual Asset Issuer' joint-stock company and related brokerage operations. The designations impose asset freezes and prohibit UK persons from dealing with the listed parties.

The action continues a UK focus, alongside the EU's recent packages, on the crypto-and-payments architecture enabling Russian sanctions circumvention, following earlier May tranches (5 May drone/migration designations and 11 May child-deportation/information-warfare designations). Independent sanctions and blockchain analysts, including TRM Labs, and the Ashurst tracker corroborated the 26 May listings and the total of 18 designations. These are administrative designations; characterizations of conduct are the UK government's.