On August 20, the United Kingdom announced new sanctions against Kyrgyz financial networks used by russia to circumvent western sanctions. The British government has imposed restrictions on several companies and individuals, joining a list of more than 2,700 organizations and individuals. London took these steps after the United States announced similar measures.
As noted, while the US-led negotiations are ongoing, the UK and its allies remain united in their desire for a just and lasting peace in Ukraine. According to the British government, Russia has turned to the Kyrgyz financial sector to transfer funds through opaque financial networks, including the use of cryptocurrencies. These networks have created an intricate scheme to evade sanctions imposed by the UK and its partners. Key financial institutions have been sanctioned.
The new package of sanctions targets the Kyrgyz Capital Bank and its director, Kantemir Chalbayev, which are used by Russia to pay for military goods. The sanctions also affected the Grinex and Meer cryptocurrency exchanges and the infrastructure of the new A7A5 cryptocurrency token backed by the ruble.
All in all, the new sanctions hit:
- GRINEX LLC
- CJSC TENGRICOIN
- OLD VECTOR LLC
- Leonid Shumakov
- Kantemir Kaparbekovich Chalbaev
- Capital Bank
- Zhanyshtek Uulu Nazarbek
- ALTAIR HOLDING SA
Source: GOV.UK
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