OFAC Sanctions Russian National Over Money Laundering Through Cryptocurrency
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced additional measures on June 12 to increase pressure on Russia in response to its ongoing conflict with Ukraine.
OFAC announced plans to increase secondary sanctions on foreign financial institutions that are involved with Russia’s war economy, and to restrict Russian access to certain U.S. software and IT services. These targets include Chinese companies selling semiconductors to Moscow.
The Treasury is now threatening to cut off these companies’ access to the US financial system.
RUBLE IS COLLAPSING
⚡️⚡️⚡️ In St. Petersburg, Russia lines are forming at money changers after the news broke about the new US sanctions that caused the suspension of currency trading on the Moscow Exchange.
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