The UK slapped sanctions on 18 crypto platforms, banks, and financial networks linked to Russia’s A7 payment system on Monday. The group processed more than $90 billion in 2025 alone to bankroll the war in Ukraine, according to the Foreign Office. The move freezes those entities’ UK assets and bars any British business from transacting with them.
The scale of A7’s crypto operation
TRM Labs, the blockchain analytics firm, traced the network’s reach. Its native A7A5 token accounted for $72 billion in trades, while wallets tied to the group moved another $39 billion. Most of that volume ran through the now-sanctioned exchanges Garantex and Grinex.io. Huobi, the Seychelles-registered exchange, processed over $4.9 billion in on-chain transactions to UK-sanctioned entities and A7 since 2021 — a figure that predates this round of penalties.
Successor platforms filled the gap after Garantex
Garantex was taken down in March 2025 by a joint law enforcement action. But the flow of illicit cash didn’t stop. TRM found that in the year after the takedown, $1.13 billion in criminal crypto activity shifted to new hubs. Of that, $838 million went straight to the A7 network. Successor platforms like Rapira, Aifory Pro, Grinex.io, and ABCex absorbed the business. The UK sanctions now cut off those outlets too.
Where the money moved
Individual exchanges show how deep the web runs. Exmo Exchange directly transacted $19.5 million with sanctioned entities including Garantex and Chatex. Rapira Group moved over $543 million, with $375.6 million of that ending up at Grinex.io. ABCex recorded $355 million in transactions — $175.2 million to Aifory Pro, $133.4 million to Garantex, and $38.1 million to Rapira. The UK added all 18 entities to its Consolidated List, which means any UK company must freeze assets and block dealings immediately.
Foreign Secretary Yvette Cooper said the sanctions are meant to “cut off the financial flows that sustain Russia’s illegal war in Ukraine.” She didn’t rule out further designations. The Treasury will now enforce the freeze, and compliance teams across London’s financial district are already scrubbing their exposure.
