Ukrainian President Volodymyr Zelensky announced new sanctions targeting Russian cryptocurrency schemes used to finance Moscow’s military-industrial complex, revealing that a single sanctioned company had channelled ‘several billion dollars’ for military purposes in 2025 alone.
‘I have just signed a new sanctions package – and these are special sanctions targeting numerous Russian financial schemes, particularly cryptocurrency-related ones,’ Zelensky said, describing the measures as both coordination with partners and Ukraine’s own initiative.
The sanctions package, introduced at the initiative of Ukraine’s National Bank, targets 60 legal entities and 73 Russian individuals involved in cryptocurrency-based sanctions evasion schemes. Zelensky emphasized that Ukraine would work with partners to synchronize the designations across ‘Ukrainian and European, Ukrainian and from other key global jurisdictions.’
‘Just through one single company, now included in the sanctions list, and only since the beginning of this year… the Russians funneled several billion dollars, primarily for the needs of their military-industrial complex,’ the Ukrainian president stated. ‘Right now, with many of Russia’s traditional financial channels blocked, they are increasingly shifting to cryptocurrency transactions,’ Zelensky said.
Ukrainian authorities indicated the sanctions represent part of broader efforts to cut off Moscow’s access to international financial systems. ‘Of course, we will shut down all such schemes,’ Zelensky declared, emphasizing Ukraine’s commitment to disrupting Russian financing mechanisms.
The cryptocurrency-focused sanctions come as Western authorities have increasingly identified digital assets as a primary avenue for sanctions evasion.
English (US) ·