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UK targets banks, cryptocurrency firms, supply chains and oil tankers with new Russia sanctions

Britain has imposed 38 new Russia-related sanctions and amended two existing designations, targeting financial institutions, cryptocurrency businesses, technology suppliers and oil tankers as it expands measures aimed at disrupting support for Moscow.

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LONDON, October 8, 2026 — The UK Foreign, Commonwealth and Development Office (FCDO) announced the measures Thursday in an update to the UK Sanctions List under the Russia (Sanctions) (EU Exit) Regulations 2019.

The latest designations include Russian financial institutions, foreign companies allegedly supporting Russia's economy or supplying technology that could undermine Ukraine, and vessels involved in transporting Russian-origin oil and petroleum products. Among the newly sanctioned businesses are Russian lender Stolichny Kredit, financial services company Planeta and Canada-registered Xeltox Enterprises Ltd., which the UK identified as operating through cryptocurrency payment platforms Cryptomus and Heleket.

The measures also target Kyrgyzstan-based Processing KG, its director Ulan Arymbaevich Bukabaev and cryptocurrency company TokenSpot CJSC. The designations highlight Britain's efforts to restrict financial channels that could facilitate transactions linked to Russia.

The UK also sanctioned China-based Yangzhou Developing Import & Export Co. Ltd. and Russian companies including Prime Top LLC and TD Vekprom. British authorities cited concerns about the provision of goods, technology or economic resources that could contribute to destabilizing Ukraine. Newly designated companies face asset freezes and, where specified, restrictions on trust services, company directorships, correspondent banking and payment processing. Certain entities are also subject to internet services restrictions.

The sanctions also target Russian energy companies Zarubezhneft JSC and INK-Capital, alongside oil tankers including Bellaris, Dakar, Daphne V, Anaya and Yehope. The shipping restrictions include bans on UK port access, chartering and specified maritime services. Separately, the FCDO amended existing designations for Russian defense conglomerate Rostec and aviation company HeliCo Group LLC. Both remain subject to UK sanctions.

The measures form part of Britain's continuing efforts to restrict Russia's access to international financial networks, strategic technology and energy revenues following its invasion of Ukraine.

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