The United States Treasury Department has sanctioned 13 business entities and two individuals for Russian operations which involve aiding sanction evasion through the use of digital assets.
In a recent press release, the Department of Treasury’s Office of Foreign Asset Control flagged the activities of certain companies and individuals in the Russian financial and technology sector. According to the statement, the majority of firms listed facilitated that movement of assets or helped OFAC-designated persons evade sanctions.
Crypto Firms Aid Russian Finance
The body revealed that five firms are wholly owned it have their operations controlled by OFAC-designated entities. Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson explained that Russia is pivoting to other financial sources to evade United States sanctions.
“As the Kremlin seeks to leverage entities in the financial technology space, Treasury will continue to expose and disrupt t
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