Office of Foreign Assets Control (OFAC) targets Russian paramilitary group with crypto sanctions
The US Treasury Department’s Office of Foreign Assets Control (OFAC) is imposing a ban on five crypto addresses linked to a Russian neo-Nazi paramilitary group.
The group known as Task Force Rusich was added to OFAC’s Specially Designated Nationals and Blocked Persons List (SDN) along with 22 individuals and entities for facilitating the geopolitical conflict that caused Europe’s biggest refugee crisis since World War II.
The sanctions are part of the government’s initiative to hold accountable individuals and entities that helped Russia wage war on Ukraine.
The Treasury Department says Rusich fought with Russia’s military in Ukraine and committed atrocities against dead and captured Ukrainian soldiers.
The sanction effectively bans two Bitcoin (BTC) addresses, two Ethereum (ETH) wallets and one Tether (USDT) address associated with the group.
Treasury Secretary Janet Yellen says the move is aimed at paralyzing Russia and its president, Vladimir Putin, from further aggression.
“As Ukraine pushes to defend its freedom, we are taking steps today to further undermine Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further isolate Putin economically.”
The Treasury Department has imposed a ban on crypto wallets linked to sanctioned individuals. It prohibited Americans from trading with the BTC addresses of the ransomware group affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC).
Earlier this week, the department updated its policy on the Tornado Cash ban. It now provides a way for users to complete pending transactions and withdraw frozen funds after receiving criticism over its decision to sanction the crypto-mixing service.
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Featured image: Shutterstock/ValDan22/Nikelser Kate
