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, \u201cThe 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\u2019s targets offer services to previously designated entities, including Russian financial institutions, or misuse virtual assets to enable sanctions evasion.\u201d<\/p>\n
Miller said that the US\u2019 action reaffirms the G7 commitment to curb Russia\u2019s use of the international financial system to further its war against Ukraine. The action demonstrates the US\u2019 efforts to target companies servicing Russia\u2019s core financial infrastructure. He stated that the US will continue to take appropriate action to promote accountability for those who enable or profit from Russia\u2019s war against Ukraine.<\/p>\n
In a press release, the US Department of the Treasury said, \u201cMany of the individuals and entities designated today facilitated transactions or offered other services that helped OFAC-designated entities evade sanctions.\u201d \u201cThese designations build upon OFAC\u2019s February 23, 2024 action to target companies servicing Russia\u2019s core financial infrastructure and curtail Russia\u2019s use of the international financial system to further its war against Ukraine,\u201d it added.<\/p>\n
The entities that have been sanctioned include Joint Stock Company Echelon Technologies (Echelon Technologies), Obshchestvo S Ogranichennoy Otvetstvennostyu Sistemy Raspredelennogo Reyestra (Masterchain), Obshchestvo S Ogranichennoy Otvetstvennostyu Atomaiz (Atomaiz) and Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP).<\/p>\n
US has imposed sanctions against Russia ever since the war between Moscow and Kyiv started in 2022. The US has also designated Russian entities and people who they say support Russia\u2019s offensive against Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US has imposed sanctions against 13 entities and two individuals for operating in the financial services and technology sectors\u2026<\/p>\n","protected":false},"author":28,"featured_media":34851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[88],"tags":[5508,4730,11652,11654,11653,11658,290,265,681,11655,776,11656,11657],"class_list":["post-34850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-relations","tag-accountability","tag-companies","tag-evading-sanctions","tag-financial-infrastructure","tag-financial-services-and-technology-sectors","tag-international-financial-system","tag-russia","tag-russia-ukraine-war","tag-sanctions","tag-target","tag-us","tag-virtual-assets","tag-war-funding"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/34850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=34850"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/34850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/34851"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=34850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=34850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=34850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}