Zelensky Signs Sanctions Targeting Russian Crypto Schemes

HomeNews* President Volodymyr Zelensky signed a new sanctions package targeting Russian financial operations, especially those involving cryptocurrency.

• The package sanctions 60 companies and 73 Russian citizens, aiming to block support for the Russian military industry.
• The sanctions are aligned with measures from Ukraine’s partners and seek to consolidate restrictions across multiple countries.
• Ilan Shor, a Moldovan oligarch with Russian citizenship, is among those targeted due to alleged use of cryptocurrency to help Russia bypass sanctions.
• Ukraine plans further steps to synchronize its sanctions with the European Union and other international partners in the coming week. President Volodymyr Zelensky has enacted a new set of sanctions against Russian financial schemes, focusing especially on cryptocurrency-related activities. This move was made public in his recent video address and made official through Decree No. 465/2025. The sanctions target Russian economic actions that contribute to the ongoing conflict in Ukraine.

• Advertisement - The latest package includes measures against 60 companies and 73 Russian citizens. According to Zelensky, one of the listed companies channeled several billion U.S. dollars since the beginning of the year, mainly in support of Russia’s military industry.

“Just through one company, which is now on the sanctions list, and only since the beginning of this year, that is, before the sanctions, the Russians have spent several billion dollars, and mainly for the needs of their military industry,” Zelensky stated. Ukraine intends to work with international partners to ensure these sanctions apply in multiple jurisdictions.

One high-profile individual named in the sanctions list is Ilan Shor, a Moldovan business figure holding Russian citizenship. The Financial Times reports that Shor created a cryptocurrency token called A7A5, allegedly used to help Russia avoid financial penalties. Through A7A5, approximately $9.3 billion was moved in just four months.

Next week, Kyiv is preparing additional agreements to synchronize its sanctions with those of the European Union and ensure that all European restrictions against Russia also apply in Ukraine. Zelensky recently approved a decision requiring various Ukrainian authorities—including the Cabinet of Ministers, the Security Service (SBU), the National Bank, Foreign Intelligence, and the Prosecutor General’s Office—to carry out all sanctions enacted by the country’s international partners.

These organizations must adjust Ukraine’s national laws to match international measures and coordinate existing Ukrainian restrictions with global partners in cities like Brussels and Washington.

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