U.S. Unleashes New Sanctions Against Russian Oligarchs, Bank And Crypto Miner...
The US Department of the Treasury is targeting companies, oligarchs, and bitcoin miners operating in Russia for the first time ever as the country’s conflict on Ukraine enters its third month. Treasury officials announced Thursday that the department is now pursuing the Russian commercial bank Transkapitalbank, as well as a network of more than 40 […]
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The crypto industry is lobbying U.S. lawmakers against two bills aimed at preventing Russian oligarchs from using cryptocurrency to avoid sanctions. The U.S. and many other countries placed sanctions on them after Russia began its invasion of Ukraine. Bills Preventing Wealthy Russians From Using Crypto to Avoid Sanctions The Blockchain Association has been lobbying U.S. lawmakers against two bills designed to prevent Russian oligarchs from using cryptocurrency to evade sanctions imposed on them after Russia began its invasion of Ukraine, CNBC reported last week. The first is a House bill....
A group of Russian and Venezuelan nationals have been charged by U.S. authorities for their roles in a scheme to circumvent Western sanctions and launder money on a global scale. They have been accused of obtaining military technologies from American companies, smuggling oil, and disguising money flows for Russian oligarchs through shell companies and crypto transactions. Russians Arrested in Europe Face Extradition to US on Allegations of Shipping Oil, Dual-Use Technology in Violation of Sanctions Five Russian citizens and two Venezuelans have been charged for violations related to the....
The European Union is extending the scope of sanctions introduced in response to Russia’s invasion of Ukraine, with the latest agreement between member states specifically mentioning crypto assets. Russian oligarchs, senators and Belarusian banks have been targeted. Europe’s Sanctions Classify Crypto Assets as Securities to Close Loopholes for Russia On Wednesday, the European Commission welcomed a new agreement between the 27 members of the European Union to amend the bloc’s regulations imposing sanctions on Russia — for its military assault on Ukraine —....
Elliptic has discovered a dubious crypto wallet with “significant crypto-asset holdings” in the millions of dollars. Blockchain security and forensics firm Elliptic has been working with authorities to expose crypto wallets affiliated with sanctioned individuals or organizations.The United Kingdom-based company has discovered a wallet with “significant crypto-asset holdings” in the millions of dollars that may be linked to sanctioned Russian officials and oligarchs. Speaking to Bloomberg on March 14, Elliptic co-founder Tom Robinson said that crypto could be used for sanctions evasion.....
The Group of Seven (G7) countries issued a joint statement stating that they “will ensure that the Russian state and elites, proxies and oligarchs cannot leverage digital assets as a means of evading or offsetting the impact of international sanctions.” Meanwhile, the U.S. Treasury Department is “closely monitoring any efforts to circumvent or violate Russia-related sanctions, including through the use of virtual currency.”
G7 Committed to Ensuring Russia Cannot Evade Sanctions Using Crypto
The leaders of the Group of Seven (G7) countries jointly....