The Ukrainian President Volodymyr Zelenskyy has given the green light for new penalties aimed at 60 firms and 73 individuals from Russia, stepping up its efforts against crypto companies that are trying to avoid sanctions.
The National Bank of Ukraine led the sanctions initiative, focusing sharply on digital asset schemes. Zelenskyy said some of the sanctioned firms moved billions of dollars in 2025 alone. He noted that these funds were directly supporting Russia’s military-industrial operations.
In addition, Ukraine has also targeted individuals involved in crypto transactions, who took advantage of loopholes in cross-border finance and sidestepped traditional restrictions. Given that this could be a serious threat, Ukraine’s strategy is focused on cutting off these alternative financial channels.
Coordination with International Allies
The new sanctions were crafted in collaboration with the European Union and other allied nations. Zelenskyy emphasized aligning these sanctions on a global scale. Additionally, Ukraine will keep reviewing each sanctioned entity alongside its partners to ensure everything is legally sound.
Despite regulatory differences, Ukraine insists on matching EU measures and embedding them in its national law. Notably, this approach ensures no gaps in enforcement, even across different legal systems.
This crackdown follows earlier sanctions issued on June 27. At the time, Kyiv targeted 87 entities linked to drone tech and chip production. That list included one Chinese firm and several Russian defense suppliers.
Additionally, Ukraine has imposed penalties on firms tied to the Alabuga economic zone and Shahed drone systems. Crypto miners, wallets, and exchanges under Russian control now face stricter scrutiny. Zelenskyy warned of more sanctions next week, supporting Kyiv’s resolve.
Also Read: Ukrainian Lawmakers Introduce Bitcoin and Crypto Reserve Bill
