Last week, Ukrainian Modern Digital Science (UMDS) had the honour of participating in the SIFMANet Summit 2025 in Brussels — an important platform bringing together public authorities, the private sector, and civil society from across the EU and beyond to assess the evolving sanctions landscape at a critical moment for global economic statecraft.
Representing UMDS, we shared our perspectives on current developments in the crypto space, with a particular focus on stablecoins and cryptocurrency-enabled sanctions evasion. We hold deep respect for the professionals who take personal and professional risks to counter global sanctions evasion and illicit trade networks. As Ukrainians, we especially value their commitment, resilience, and results-oriented mindset in confronting these challenges.
The Summit offered not only strategic insights but also a clear view of the practical and regulatory realities shaping sanctions enforcement today — helping to connect the “big picture” with real-world implementation challenges.
Expert panel & practical focus
Special thanks also to UMDS expert Mykhailo Tiutin for his active participation and for helping facilitate such a meaningful and technically rich exchange. It was a pleasure to contribute to a panel discussion alongside Tom Keatinge, Richard Sanders, and Matthias Bauer-Langgartner. Our intervention deliberately focused on practical, achievable measures — the “low-hanging fruit” — rather than ideal but difficult-to-implement solutions. We hope this approach helps policymakers and practitioners prioritise actions that can deliver tangible results in the near term.
We extend our sincere thanks to Kinga Redłowska and Tom Keatinge for the invitation and excellent organisation.
Key takeaways from the SIFMANet Summit 2025
Hosted on 4 December by the Centre for Finance and Security (CFS) at RUSI and RUSI Europe, the Summit highlighted several critical themes:
- Enforcement needs political backing. Without timely transposition and coordinated implementation, the EU criminalisation directive risks being ineffective. There is a growing case for a stronger administrative enforcement regime at EU level.
- Crypto as a key enabler of sanctions evasion. Cryptocurrencies are increasingly used to procure high-priority items outside the traditional financial system, particularly in support of Russian procurement networks, while government expertise and resources still lag behind the threat.
- Lessons from challenged designations. High-profile cases underscored the importance of robust evidence, strategic clarity, and due process in sanctions designations.
- Sanctions must go beyond Russia. EU thematic regimes — including cyber, organised crime, and irregular migration — remain underused and require stronger criminal enforcement to disrupt networks both within and beyond the EU.
- Hybrid threats require more than sanctions alone. From shadow-fleet operations to sabotage and election interference, Russia’s evolving tactics demand closer integration of sanctions with intelligence, diplomatic, and law-enforcement tools.
Looking ahead
The workshops, panels, and in-depth discussions covered:
- EU sanctions in practice and compliance red flags
- Disrupting hybrid threats and shadow-fleet operations
- Strengthening thematic sanctions regimes
- Due process and litigation risks in sanctions designations
- Alternative payment systems and geopolitical fragmentation
- Cryptocurrency-enabled sanctions evasion
We are grateful to all speakers and participants for a day of open, candid, and forward-looking dialogue. The insights gained at the SIFMANet Summit 2025 will directly inform UMDS’s analytical, policy, and capacity-building work as Europe strengthens its sanctions response in 2026.
Collaboration is key to success — and we are proud to be part of this shared effort.