UK Sanctions Crypto Platforms Over Alleged Russia Sanctions Evasion

The United Kingdom sanctioned five crypto and payment entities and a company director on Oct. 8, accusing the targets of helping Russia evade financial restrictions in a move that raises compliance risks for digital-asset businesses.

The measures target Planeta, Xeltox Enterprises Ltd., Processing KG, TokenSpot and Tsunami Payments, along with Processing KG director Ulan Arymbaevich Bukabaev. Processing KG is based in Kyrgyzstan, while Xeltox is linked to the Cryptomus and Heleket crypto services.

Several entities face asset freezes, internet-service restrictions and bans on correspondent banking and payment processing. Bukabaev also faces a travel restriction.

British authorities identified two of the platforms as suspected of processing or facilitating transactions through A7, which the government described as a Kremlin-backed network used to bypass restrictions on Russia’s financial sector. A7 claimed to have moved more than $90 billion during 2025.

The sanctions were part of a package of 38 Russia-related designations covering financial services, oil revenue, shadow-fleet tankers and suppliers of military-related goods. “The message is simple: if you help Russia fund or equip this war, you will face the consequences,” the British government said.