The UK has imposed sanctions on Kyrgyzstan’s financial sector and several crypto platforms, citing their alleged role in helping Russia circumvent Western restrictions. This action follows similar steps taken by the US and aims to halt the operation of a ruble-linked stablecoin network accused of processing over $9.3 billion in transactions within four months. The UK sanctions target Capital Bank of Central Asia, its director Kantemir Chalbayev, Grinex and Meer crypto exchanges, and companies associated with the A7A5 stablecoin’s operations. The UK describes A7A5 as an attempt to replicate the ruble on blockchain rails, aiming to circumvent sanctions. This network has processed billions of dollars since its launch.