UK Sanctions Crypto Firms Linked to Russia’s A7 Financial Network

The UK sanctioned three cryptocurrency exchanges and two payment platforms on Oct. 8, expanding restrictions on financial networks suspected of helping Russia evade sanctions.

The 38-designation package names Xeltox Enterprises, the Canadian-registered company behind Cryptomus, Heleket and Certa Payments; Kyrgyzstan-based TokenSpot; Processing KG, which operates VexPay; and Tsunami Payments. Processing KG director Ulan Bukabaev was also sanctioned.

The UK linked two of the targeted businesses to transactions involving A7, a Russia-backed financial network that uses the ruble-backed A7A5 digital token to move funds despite restrictions on Russian banks. A7 claimed it processed more than $90 billion in 2025.

The measures freeze designated assets within British jurisdiction and bar financial institutions from processing prohibited payments involving the listed firms. The announcement did not provide transaction totals for individual companies or say that every sanctioned exchange handled A7A5.

The package also targets Russian oil producers Zarubezhneft and INK Capital, 12 tankers associated with Russia’s shadow fleet, and 17 people and businesses tied to military supply chains. The restrictions take effect under the UK’s sanctions regime.