United States of America: Issued OFAC list of sanctioned entities due to alleged enabling of US sanctions evasion

On 25 March 2024, the Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned thirteen entities and two individuals for operating in the financial services and technology sectors of the Russian Federation economy, including actors developing or offering services in virtual assets that enable OFAC-designated entities evade sanctions. All property and interests in the property of the designated actors in the United States are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 per cent or more by one or more blocked actors are also blocked. The thirteen sanctioned entities are Joint Stock Company B-Crypto (B-Crypto), Masterchain, Laitkhaus, Atomaiz, Tokentrust Holdings Ltd, Veb3 Tekhnologii, TOEP, Bitfingroup, Bitpapa, Crypto Explorer, OOO Kripto Eksplorer, Echelon Technologies, and Echelon Union. The two sanctioned individuals are Igor Veniaminovich Kaigorodov and Timur Evgenyevich Bukanov.