U.S. targets Russian fintech operators for Ukraine sanctions evasion work

The U.S. Treasury on Monday said it imposed sanctions on Russian financial services and technology firms and individuals for developing or offering services in virtual assets aimed at evading U.S. sanctions on Russia over its invasion of Ukraine.

The Treasury said its Office of Foreign Assets Control (OFAC) designated 13 entities and two individuals in the latest round of Russian sanctions targeting Russia's core financial infrastructure to block its use of the international financial system to further its Ukraine war aims. Five of the entities were designated for being owned or controlled by persons already sanctioned OFAC.