OFAC Imposes Sanctions on Russian National Accused of Laundering Money Using Virtual Currency

The United States Office of Foreign Assets Control (OFAC) has announced sanctions against Ekaterina Zhdanova, a Russian national, for allegedly using virtual currency to launder money on behalf of designated Russian elites. OFAC has blocked Zhdanova’s properties and interests in the United States, or they must be reported.

Targeting Sanction Busters Assisting Russian Oligarchs On November 3, the U.S. Department of the Treasury‚Äôs OFAC disclosed the sanctions against Ekaterina Zhdanova, accusing her of laundering money for Russian elites using virtual currency. This move aligns with the G7’s efforts to pursue individuals evading sanctions and aiding sanctioned Russian oligarchs.

According to OFAC, Zhdanova facilitated the concealment of the source of $2.3 million directed to Western Europe for a sanctioned Russian individual, thus enabling evasion of sanctions.

Brian E. Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence, commented on Zhdanova’s sanctions, stating:

“We remain focused on safeguarding the U.S. and international financial system against those who seek to exploit this technology, among other illicit finance risks in the virtual assets ecosystem.”

Following her designation, OFAC has restricted Zhdanova’s

properties and interests in the U.S., citing her activities as undermining the effectiveness of multilateral U.S. and international sanctions imposed on Russia.

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