President Volodymyr Zelenskyy has enacted new sanctions decisions of the National Security and Defense Council against individuals and entities linked to Russia’s military-industrial complex and financial infrastructure. A particular focus was placed on crypto schemes used to finance missile production.
President of Ukraine Volodymyr Zelenskyy signed decrees enacting decisions of the National Security and Defense Council to impose sanctions on 66 individuals and 62 legal entities, according to the Office of the President of Ukraine.
The first decree is aimed at limiting the capabilities of Russia’s military-industrial complex and covers 24 individuals and 27 legal entities. These include companies supplying goods used to manufacture components for Russian missiles and drones, which Russia has used in attacks on Ukraine. Without foreign components, their production would be impossible.
The second decree targets the enemy’s financial infrastructure and individuals who help Russia circumvent sanctions imposed by Ukraine, the European Union, and the United States. This package includes 42 individuals and 35 legal entities.
Among those sanctioned is the ecosystem of the A7 cryptocurrency network, through which payments were made for the supply of components used in the production of Russian missiles. Sanctions were also imposed on the association of developers and users of technologies that support Russia’s crypto market and industrial accumulation of virtual currency (mining), as well as on payment operators, cryptocurrency owners, and crypto exchanges.
Some of these decisions will be included in the European Union’s 20th sanctions package, which is currently at the final stage and may be adopted by the end of the month.
The Office of the President emphasized that Ukraine systematically identifies and sanctions everyone involved in producing weapons for Russia and financing the supply of components, directly limiting the potential of Russia’s military-industrial complex.