Ukrainian President Volodymyr Zelenskyy announced a new sanctions package aimed at blocking financial channels that support the Russian military through cryptocurrencies.
Goals and Scope of the New Sanctions
The new sanctions target 60 Russian-linked companies and 73 individuals connected to crypto-financial schemes. Zelenskyy noted that one of the sanctioned firms had transferred several billion dollars this year, much of which was funneled into the defense industry.
International Cooperation in Sanctions
The sanctions were developed in close coordination with international partners, particularly the European Union. Zelenskyy emphasized the importance of coordinated action to form a united front against economic support for Russia.
Future Initiatives in Ukraine's Crypto Sector
Zelenskyy announced that more sanctions are in the pipeline and that efforts are underway to synchronize measures with upcoming EU packages. A draft bill permitting the central bank to hold cryptocurrencies as part of national reserves is also being considered.
The introduction of these measures underscores Ukraine's efforts to limit conflict funding and block channels through which Russia could conduct financial operations.
