The US imposes sanctions on crypto market companies that helped russia circumvent restrictions
Kyiv • UNN
The US Treasury Department imposed sanctions against 13 russian entities and 2 individuals involved in the technology and financial services sectors in order to evade sanctions imposed by the US against russia.
On Monday, March 25, the US Treasury Department announced sanctions against thirteen russian entities and two individuals involved in the technology sector of the russian economy and financial services. This is reported by UNN with reference to a press release of the US Treasury Department.
Details
According to the Ministry of Finance, sanctioned persons "develop or offer services in virtual assets that allow evading US sanctions" or are owned or controlled by other persons on the sanctions list.
The US sanctions list includes, among others, Moscow-based fintech companies B-Crypto, Distributed Registry Systems, Lighthouse, Electronic Payment Instrument Development Center, and Atomize, which cooperate with sanctioned russian banks.
The US Treasury Department also imposed sanctions on russian companies Web3 Technologies and Web3 Integrator, which work with blockchain technology, Estonian Bitfingroup OÜ and Cypriot Tokentrust Holdings, which are linked to russia.
The restrictions were imposed on Igor Kaygorodov, a shareholder of VEB3 Technologies, and Timur Bukanov, owner and director of the Center for the Development of Electronic Payment Instruments.
Separately, the United States imposed sanctions on three russian companies that helped russia purchase technological equipment, including for the defense sector, in order to circumvent sanctions.
Addendum
The Ministry of Finance emphasizes that it will continue to impose sanctions on organizations that help russia work around sanctions.
russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine. As the Kremlin seeks to exploit financial technology organizations, the Treasury Department will continue to expose and undermine companies that seek to help sanctioned russian financial institutions reconnect with the global financial system
Recall
The EU has extended individual sanctions against russiansresponsible for undermining Ukraine's territorial integrity for another six months until September 15, 2024, while maintaining restrictions on more than 2,100 individuals and entities supporting russia's military aggression in Ukraine.
