The UK and US have imposed sanctions on Kyrgyz financial institutions and crypto networks accused of aiding Russian sanctions evasion, war funding, and ransomware activities. These measures aim to disrupt illicit financial channels, including those used by ransomware groups like Conti and Black Basta. #Garantex #OldVector
Keypoints
- The UK sanctioned Kyrgyz bank Capital Bank and director Kantemir Chalbayev for helping Russia fund military activities.
- Authorities identified crypto networks like Garantex and Old Vector involved in laundering over $100 million for ransomware groups.
- Garantex used A7A5 tokens issued by Old Vector to help clients evade sanctions and move illicit funds.
- Sanctions expanded to include Kyrgyz company Old Vector and Kyrgyzstan’s Keremet Bank, limiting access to UK financial services.
- U.S. sanctions remain stronger due to control over dollar transfers, but UK measures aim to tighten financial restrictions.