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The US Department of the Treasury continues to enforce tough sanctions against Russian individuals and entities involved in military actions against Ukraine.
US Department of the Treasury Office of Foreign Assets Control (OFAC).an office that administers and enforces economic and trade sanctions based on US foreign policy and national security objectives, has blacklisted two crypto wallet addresses linked to Russia’s sanctions evasion network.
According to pers conference distributed on February 1, OFAC adds one Bitcoin (BTC) wallet address and one Ethereum (ETH) wallet address to the list of Specially Designated Nationals.
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In a press release, OFAC noted that the move came as a result of the US aim to “methodically and intensively target sanctions evasion efforts around the world.” In particular, the US destination to limit Russia’s access to the “revenue needed to wage” its war in Ukraine.
The US Deputy Secretary of the Treasury, Wally Adeyemo, commented on the matter stating:
Targeting proxies is one of many steps that the Department of Finance and our coalition of partners have taken, and continue to take, to tighten enforcement of sanctions against the Russian defense sector, its benefactors and supporters.
OFAC sanctioned 22 individuals and entities that support the “Russian military-industrial complex”.
List of sanctioned individuals including Jonathon Zimenkov, who reportedly has access to at least one BTC wallet and one ETH wallet. The man is the son of Igor Zimenkov, the leader of a Russian sanctions evasion ring.
OFAC believes the network supplies the Russian armed forces with technology used in the war against Ukraine. Additionally, group allegedly supporting several “approved state-owned Russian defense entities”.
At the time of writing, the two penalized wallets were blank. However, data disclosed last year someone moved 5,463 ETH, worth about $16 million.
This is not the first time OFAC has blacklisted individuals and entities linked to Russia. In September 2022, US Treasury Department penalty five crypto addresses connected to a Russian neo-Nazi paramilitary group.
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