The US Treasury Department and its Office of Foreign Assets Control (OFAC) imposed sanctions on May 19 on several entities associated with Russia.
Treasury Approves New Crypto Address
OFAC has sanctioned several entities, including Huriya Private FZ LLE, a company based in the United Arab Emirates (UAE). The company has reportedly been laundering money and procuring passports for Russian actors since the Russian invasion of Ukraine began in 2022.
Sanctions against Huriya Private also extend to the company’s CEO, Irish citizen John Desmond Hanafin. The Treasury has approved the address of Hanafin’s Tether (USDT), 0x38735f03b30FbC022DdD06ABED01F0Ca823C6a94.
Separate reports from blockchain analytics firm Elliptic suggest that the address has received more than $4.95 million in stablecoin transactions.
Huriya Private and Hanafin are just two individuals named in the latest sanctions. OFAC has sanctioned hundreds of other individuals and entities for interfering with Russian export control, military finance and energy revenue evasion.
Other Russian-related Treasury measures
The US Treasury Department and OFAC have also taken action against other crypto addresses and cryptocurrency companies associated with Russia in the past.
In September 2022, OFAC approved several crypto addresses associated with Task Force Rusich. In April 2022, it approved the crypto mining company BitRiver, as well as the Russian darknet market Hydra, which relied on Bitcoin transactions.
In February 2023, the agency approved Bitcoin and Ethereum addresses associated with Russian arms dealer Igor Zimenkov and his son, Jonatan Zimenkov.
The agency has also sanctioned numerous actors in other countries, including North Korea and China, as well as decentralized cryptocurrency mixer Tornado Cash.
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