Washington

The US has imposed sanctions against 13 entities and two individuals for operating in the financial services and technology sectors of the Russian Federation economy, including persons developing or offering services in virtual assets that enable the evasion of US sanctions. In addition, five entities were designated for being owned or controlled by OFAC-designated persons.

In a statement, US Department of State spokesperson Matthew Miller said, The United States is today designating two individuals and 18 entities for operating in the financial services and technology sectors of the Russian Federation economy. Many of today’s targets offer services to previously designated entities, including Russian financial institutions, or misuse virtual assets to enable sanctions evasion.

Miller said that the US’ action reaffirms the G7 commitment to curb Russia’s use of the international financial system to further its war against Ukraine. The action demonstrates US’ efforts to target companies servicing Russia’s core financial infrastructure. He stated that US will continue to take appropriate action to promote accountability for those who enable or profit from Russia’s war against Ukraine.

These designations build upon OFAC’s February 23, 2024 action to target companies servicing Russia’s core financial infrastructure and curtail Russia’s use of the international financial system to further its war against Ukraine, it added.