Sanctions Against Russia: News

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Russia's defense giant quietly launches new cryptocurrency despite EU sanctions

A cryptocurrency associated with Russia's sprawling state defense corporation has quietly launched just as the European Union targets Russian crypto markets with further sanctions. Blockchain data reviewed by Kyiv Independent suggests that ruble token RubX, announced by Rostec last year, soft-launched on July 17. RubX later started offering swaps to the widely accepted dollar stablecoin Tether via Telegram on July 24. Cryptocurrencies have emerged as a key conduit for Russian importers to make

A view of the Moscow International Business Center, known as Moscow-City, in Moscow, Russia, on Oct. 6, 2025

About Sanctions against Russia

Sanctions against Russia include over 15,000 individual and entity designations imposed by Western countries following the full-scale invasion launched in February 2022. Measures target Russia's central bank, energy sector, technology imports, financial institutions, and individuals supporting the war. The European Union, United States, United Kingdom, and allies continue to coordinate sanctions.

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President Volodymyr Zelensky's meeting with U.S. President Donald Trump took place in what Ukrainian officials described as a warm atmosphere, but it produced few results for Kyiv, people familiar with the discussions told the Kyiv Independent. The one breakthrough may have been persuading Steve Witkoff and Jared Kushner — Trump's two main envoys on Russia and Ukraine — to finally visit Kyiv after months of shuttling to Moscow. One U.S. official familiar with the planning cautioned that the tr

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