UK Sanctions Cryptomus, TokenSpot and Two Payment Platforms in 38-Target Russia Package

The UK sanctioned three crypto exchanges and two payment platforms Thursday over suspected Russian sanctions evasion, the Foreign, Commonwealth & Development Office said. Designated targets include Xeltox Enterprises, a Vancouver-registered company owning Cryptomus, cited for activities "linked to and continued via" Heleket. Kyrgyz firms TokenSpot and Tsunami Payments, sharing a Bishkek office tower, were also named, as was Processing KG, operator of payment service VexPay, whose parent is Kyrgyzstan's Finance Ministry. Its director, Ulan Bukabaev, was sanctioned alongside it. Two targets processed transactions with the A7 network, which the UK calls a Kremlin-backed "illicit finance network" that claimed to move over $90 billion last year. The four companies face asset freezes plus internet services sanctions requiring platforms, providers and app stores to block UK access. The crypto designations form part of a 38-target package including oil companies Zarubezhneft and INK Capital. The UK said sanctions now cover more than 90% of Russia's oil production capacity, and added 12 shadow fleet tankers, bringing the total above 600.