One day before the August 15, 2025 summit in Anchorage between U.S. President Donald Trump and Russian President Vladimir Putin, the U.S. Treasury announced a new package of sanctions aimed at Russian financial and cryptocurrency structures.
The OFAC (SDN) list now includes Pavel Karavatsky, Alexander Mira Serdi, and Sergey Mendeleev, all linked to the crypto exchange Garantex, which has been used to evade sanctions. According to investigations, in March 2025 authorities in the U.S., Germany, and Finland froze more than $26 million in Garantex assets. The platform is alleged to have processed over $100 million in illicit transactions connected to ransomware operations and dark web marketplaces.
Newly sanctioned entities include crypto firms Indefi, Grinex, Exve, and Bishkek-registered Old Vector. According to Financial Times, Grinex was created by former Garantex employees and is directly tied to transactions involving the A7A5 stablecoin, backed by deposits in Promsvyazbank. Over just four months, A7A5 processed roughly $9.3 billion, while Grinex has handled billions of dollars in direct interaction with Garantex via “grey” channels.
Experts at Elliptic say the new measures show Washington’s intent to shut down not only traditional financial flows but also digital tools, including “bulletproof hosting” and anonymous stablecoins. This broadens the scope of sanctions, bringing the fight into the realm of blockchain analytics and real-time transaction monitoring.
Analysts also note that pressure on cryptocurrency infrastructure could serve as a bargaining chip during the Anchorage talks, where discussions are expected to focus on a Ukraine ceasefire and potential adjustments to energy deals. If the summit fails, the U.S. may expand sanctions to include measures against countries purchasing Russian oil outside established limits — a move already under discussion in Washington (AP News).
Sanctions in the Age of Cryptocurrency: Washington Targets Digital Networks Ahead of Anchorage Summit
Treasury actions widen from banks to crypto rails — including exchanges, “bulletproof hosting,” and ruble-pegged stablecoins — as leaders head to Anchorage.
Context. One day before the August 15, 2025 summit in Anchorage, the U.S. Treasury announced new sanctions targeting Russian financial and cryptocurrency networks linked to the sanctioned exchange Garantex and to the ruble-pegged stablecoin ecosystem (including A7A5). The measures follow multi-agency actions earlier in 2025 that disrupted Garantex infrastructure and froze tens of millions of dollars in cryptoassets.
Why this matters
Sanctions are moving beyond traditional banking into on-chain rails. That means crypto exchanges, stablecoin issuers, OTC brokers, and infrastructure providers face intensified monitoring and enforcement. For policymakers, the mix of financial pressure and diplomatic signaling may influence the outcome of Anchorage discussions.
Methodology & sources
Figures in the chart below summarize publicly reported headline amounts from official releases and reputable analytics. Values are rounded and meant for visualization; see the cited sources for details.
