OFAC Sanctions Russian National Accused of Using Virtual Currency to Launder Money

According to the United States Office of Foreign Assets Control (OFAC), Russian nationalist Ekaterina Zhdanova has been sanctioned arsenic punishment for utilizing virtual currency to launder wealth for designated Russian elites. OFAC said Zhdanova’s properties and interests successful the United States are present either blocked oregon indispensable beryllium reported.

Russian Elites Seeking to Evade U.S. Sanctions

The U.S. Department of the Treasury’s OFAC announced connected Nov. 3 that it had sanctioned a Russian nationalist it accuses of utilizing virtual currency to launder wealth for Russian elites. According to OFAC, the enactment is successful enactment with the Group of Seven Countries (G7)’s extremity of going aft authorisation busters who person been helping sanctioned Russian oligarchs.

As per the statement, the Russian national, Ekaterina Zhdanova (Zhdanova), is accused of helping an unnamed lawsuit obfuscate the root of $2.3 cardinal that was funneled into Western Europe. By taking specified a step, Zhdanova helped the sanctioned Russian idiosyncratic evade the sanctions, OFAC added.

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Commenting connected Zhdanova’s summation to the database of sanctioned Russian nationals, Brian E. Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence, said:

We stay focused connected safeguarding the U.S. and planetary fiscal strategy against those who question to exploit this technology, among different illicit concern risks successful the virtual assets ecosystem.

As a effect of her designation, OFAC said Zhdanova’s properties and interests successful the United States are either blocked oregon indispensable beryllium reported. According to OFAC, Zhdanova’s activities undermine the effectiveness of multilateral U.S. and planetary sanctions which are intended to “impose costs connected Russia for its unprovoked war.”

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