United States OFAC places new sanctions on crypto firms with ties to Russia
The US Treasury's OFAC sanctioned 13 entities and 2 individuals in Russia's financial and technology sectors for enabling evasion of US sanctions. The designations target companies facilitating transactions for OFAC-designated entities and aim to disrupt Russia's use of the international financial system to fund its war against Ukraine. Sanctioned entities include fintech firms, technology companies, and virtual currency exchanges. The sanctions block property and interests in the US and warn foreign financial institutions of potential sanctions for significant transactions involving Russia's military-industrial base. The Treasury's goal is to uphold the integrity of the international financial system and pressure Russia to change its behavior.
