Following the approval of a new round of EU restrictions and subsequent actions by Western governments, the UK introduced targeted sanctions against the St. Petersburg Currency Exchange in an effort to disrupt key financial infrastructure. The move was reported alongside other measures affecting Russian financial institutions, reflecting broader geopolitical tensions and responses to state-sponsored practices.

On May 20, 2025, the UK imposed sanctions against the St. Petersburg Currency Exchange, accusing it of aiding the Kremlin in circumventing international sanctions. This move targeted not only the trading platform but also other financial institutions allegedly involved in supporting authoritarian financial activities.

The UK government has imposed sanctions on the St. Petersburg Currency Exchange as part of a broader effort by Western nations to target Russia's financial infrastructure amid escalating geopolitical tensions and claims of delaying peace efforts with Ukraine.

The US Treasury’s OFAC accepted an appeal from the affiliated St. Petersburg Bank aimed at unfreezing client assets frozen after SPB Exchange was added to the sanctions list on November 2, 2023. The appeal, submitted in May, is now under review as the company seeks to resume trading activities amidst blocked investor assets totaling about $3 billion.

On December 19, 2023, the St. Petersburg Exchange announced that its settlement depository is formulating a request to OFAC. The proposal includes mechanisms such as reducing SPB Bank's share in the exchange's charter capital and extending the general license to allow clients to unlock their blocked foreign assets despite existing U.S. sanctions.

Amid reports of a fraudulent bankruptcy petition allegedly filed by attackers to manipulate the market following U.S. sanctions, the SPB Exchange (associated with St. Petersburg Currency Exchange) denied these claims, asserted its stable financial position, and announced plans to contact law enforcement and investigate potential forgery.