The UK Treasury Department’s Sanctions Directorate has expanded the list of sanctioned companies from Georgia under sanctions imposed against Russia, adding three cryptocurrency companies, the UK government said.
“The new measures also target 18 companies and individuals linked to A7. The group uses a Kyrgyz bank suspected of facilitating payments for the network, as well as a major global cryptocurrency exchange that we believe transferred more than $1.5 billion into the Kremlin’s coffers. We are also pursuing three Georgian companies that operate Russia-focused exchanges to circumvent the sanctions,” the UK government said in a statement on its website.
According to the document, the sanctions were imposed on the companies registered in Georgia, providing cryptohaman and cryptocurrency exchange services: Arvix LLC, Rapira Group LLC and Aifory LLC.
Earlier it was reported that on Tuesday the UK authorities added 18 individuals and companies to the sanctions list that Russia is allegedly using to circumvent sanctions imposed by London earlier.
A communiqué issued by the UK Finance Ministry noted that “cryptocurrency and illicit financial networks that Russia uses to circumvent British sanctions are being targeted.”
“The new sanctions also concern the A7 network, which actively uses the financial systems of Kyrgyzstan to divert funds to the Russian economy,” the document notes.
Measures against cryptocurrency companies became the second case of introduction by the UK authorities of sanctions against Georgian legal entities. Earlier it was reported that on 24 February the UK government imposed sanctions against Georgian TV companies Imedi TV and PosTV as part of a package of sanctions against Russia.