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Office of Foreign Assets Control (OFAC) Targets Russian Paramilitary Group With Crypto Sanctions

The U.S Treasury Department’s Office of Foreign Assets Control (OFAC) is imposing a ban on 5 crypto addresses linked to a Russian neo-Nazi paramilitary group.

The group often called Task Force Rusich was added to OFAC’s Specially Designated Nationals and Blocked Persons List (SDN) together with 22 people and entities for facilitating the geopolitical battle that precipitated Europe’s largest refugee disaster since World War II.

The sanctions are half of the federal government’s initiative to carry accountable individuals and entities that helped Russia wage conflict towards Ukraine.

The Treasury Department says that Rusich fought with Russia’s navy in Ukraine and dedicated atrocities towards deceased and captured Ukrainian troopers.

The sanction successfully bans two Bitcoin (BTC) addresses, two Ethereum (ETH) wallets and one Tether (USDT) handle tied to the group.

Secretary of the Treasury Janet Yellen says that the transfer goals to paralyze Russia and its president, Vladimir Putin, from additional committing aggression.

“As Ukraine presses forward with defending its freedom, today we’re taking steps to further degrade Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further financially isolate Putin.”  

The Treasury Department has been imposing prohibitions on crypto wallets linked to sanctioned individuals. It banned Americans from transacting with the BTC addresses of the ransomware group affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC).

Earlier this week, the division up to date its coverage on its prohibition towards Tornado Cash. It now supplies a method for customers to finish pending transactions and withdraw frozen funds after receiving criticism over its choice to sanction the crypto mixing service.

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Featured Image: Shutterstock/ValDan22/Nikelser Kate

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