Ukraine Exposes 14 Financial Entities Aiding Russia's Sanctions Evasion

The Ukrainian Ministry of Defence's Main Intelligence Directorate has identified 14 financial entities and payment systems that allegedly help Russia evade sanctions.

The institutions listed include Finzypay, a payment platform that uses RubX, a digital asset pegged to the ruble; Asia-Pacific Bank, which processes cross-border payments through China's interbank system, CIPS; and System-Crypto, a Russian financial technology service belonging to AFK Sistema.

The Defence Intelligence of Ukraine believes that these alternative payment channels allow Russia to make international payments while avoiding sanctions. These channels include digital currencies, cross-border payment networks, and the financial infrastructure of countries not subject to restrictions.

According to the Defence Intelligence of Ukraine, shutting down these schemes would limit Russia's ability to sustain its military capabilities by making financial transactions and supplies for its military-industrial complex more difficult.