Britain has imposed sanctions on Kyrgyzstan's financial sector and crypto networks that Russia allegedly uses to bypass Western restrictions and target stablecoin businesses allegedly backed by rubles worth $9.30 billion. In a statement on Wednesday, the U.K. government said the new measures are on top of the more than 2,700 existing U.K. sanctions against Russia, which the U.S. took last week.
The sanctioned banks include Central Asia Capital Bank and its president, Kantemir Chalbayev, which the UK claims Russia used to finance military supplies. Two cryptocurrency exchanges in Kyrgyzstan, Grinex and Meer, were also blacklisted, as were entities linked to the A7A5 stablecoin infrastructure.
UK sanctions Kyrgyz banks and Russia-linked cryptocurrency networks
2025-08-21 11:23:04
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