The British Embassy has released additional information regarding the three companies registered in Georgia that were included in the United Kingdom’s latest package of sanctions.

According to the British Embassy in Georgia, the three Georgia-registered companies used crypto-exchange platforms to help Russia evade sanctions, and the volume of their transactions with sanctioned entities amounts 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 statement says.

For information, the United Kingdom expanded its sanctions list against Russia, and three companies from Georgia were included in the sanctions list. The British government imposed new sanctions on crypto and illicit financial networks that help Russia circumvent sanctions.

The United Kingdom imposed 18 new sanctions.

The sanctions list includes companies 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 statement says.

According to 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.