UK Sanctions Cryptomus, TokenSpot and Three More Crypto Platforms Over Russian Sanctions Evasion

Published October 8, 2026, 18:00 UTC. Reporting via the UK Foreign Office sanctions announcement, TRM Labs on-chain figures reported by The Block and BBX, and The Crypto Times.

The United Kingdom sanctioned five cryptocurrency and payment platforms on Thursday, October 8, accusing them of helping Russia move money around Western financial restrictions, according to the sanctions package announced by the Foreign, Commonwealth & Development Office.

The $950 million trail

The named platforms are the crypto exchanges Cryptomus, Heleket, VexPay and TokenSpot, plus the payment service Tsunami Payments, The Crypto Times reported. The UK sanctions notice lists Cryptomus and Heleket under Xeltox Enterprises Ltd, VexPay under OJSC Processing KG, and TokenSpot under TokenSpot CJSC. British authorities said some of the platforms are linked to Kyrgyzstan, and one individual was included in the package.

The crypto targets sit inside a wider package covering 38 individuals and entities tied to Russia's oil trade, financial networks and military supply chains. The Foreign Office said two of the entities have processed or helped facilitate transactions with the A7 illicit finance network, the Kremlin-linked payment system London says Russia uses to move money outside the normal financial system and dodge sanctions.

On-chain figures reported by The Block, citing blockchain analytics firm TRM Labs, show the scale of the money movement. TokenSpot transferred more than $950 million to the already sanctioned exchanges Grinex and Garantex and to the A7 network, while Cryptomus received $204 million in transactions with Garantex and transferred $101 million onward.

Foreign Secretary Yvette Cooper said the UK was adapting its approach to the evolving tactics Russia uses to evade restrictions. "If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken," she said.

The A7 network's $90 billion claim

The A7 network is the centerpiece of the UK's case. The government said the network claimed last year that it had moved more than $90 billion, an amount the UK said was roughly half of Russia's yearly military spending. The UK described A7 as being used to route funds, finance procurement and exploit foreign banking systems to evade restrictions.

Thursday's action builds on a May 2026 package in which the UK sanctioned the A7 network itself along with several crypto-related entities, including a Panama-based entity linked to the HTX exchange, then known as Huobi Global. In 2025, the UK had also acted against Kyrgyz-linked Grinex LLC and Old Vector LLC, two entities tied to infrastructure behind the A7A5 ruble-pegged stablecoin, which the authorities said had moved more than $9.3 billion in four months.

Oil, shadow tankers and missile parts

The crypto designations are one part of the package. The UK also sanctioned two Russian oil companies, Zarubezhneft and INK Capital, saying the move aims to reduce Russia's oil revenues and close routes that let sanctioned oil firms do business under different names. A further 12 oil tankers the UK describes as part of Russia's shadow fleet were added, bringing the number of sanctioned vessels above 600. The UK said many of the ships are more than 20 years old and use false flags and other deceptive shipping practices to move Russian oil.

Another 17 entities and individuals were sanctioned over the supply of goods the UK, US and EU consider important to Russia's war effort, including machine tools and electronics used to produce missiles and drones. The UK said some of the goods are routed through third countries to hide their connection to Russia.

This article is news reporting and is not investment advice.

Sources

• UK Foreign, Commonwealth & Development Office, Russia sanctions announcement, October 8, 2026, primary source
• The Block, UK sanctions coverage citing TRM Labs blockchain data, October 8, 2026, secondary source
• BBX news flash, UK sanctions entities such as Cryptomus, Heleket and TokenSpot (Oct. 8, 2026), secondary source
• The Crypto Times, UK Widens Russia Sanctions With New Crypto Exchange Targets (Oct. 8, 2026), secondary source