The British Embassy in Georgia has released additional information regarding the three Georgia-registered companies included in the United Kingdom’s latest package of sanctions against Russia.
Embassy says the companies used crypto-exchange platforms to help Russia evade international sanctions, while the volume of their transactions with sanctioned entities amounted to at least $70 million.
“Yesterday, the United Kingdom announced a new sanctions package targeting cryptocurrency exchange platforms and the ‘A7 Network.’ Russia uses this network to circumvent existing sanctions and finance its brutal war against Ukraine.
The sanctions package includes three companies registered in Georgia that use crypto-exchange platforms to help Russia evade sanctions.
The volume of their transactions with sanctioned entities amounts to at least $70 million,” the British Embassy said in a statement.
For reference, the United Kingdom recently expanded its sanctions list against Russia, adding three companies registered in Georgia.
The British government imposed 18 new sanctions targeting cryptocurrency and illicit financial networks accused of helping Russia bypass restrictions.
The sanctions list includes entities from Russia, the United Kingdom, Georgia, Kyrgyzstan, the United Arab Emirates, Panama and El Salvador.
“We are also taking action against three Georgian companies operating Russia-oriented exchanges and attempting to circumvent sanctions,” the UK government said.
Based on a document published on the UK government’s website, sanctions were imposed on the following Georgia-based companies: Arvix LLC, Rapira Group LLC and Aifory LLC.
