US imposes additional Russia-related sanctions: Treasury Department

“This is the first time [US] Treasury has designated a virtual currency mining company,” a statement read.

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The US announced new sanctions Wednesday against entities and people for allegedly attempting to evade sanctions on Russia.

The latest sanctions include Russian bank Transkapitalbank, a global network led by Konstantin Malofeyev, and, for the first time, a virtual currency mining company.

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“OFAC also designated companies operating in Russia’s virtual currency mining industry, reportedly the third-largest in the world,” the Treasury Department said in a statement.

“Treasury can and will target those who evade, attempt to evade, or aid the evasion of US sanctions against Russia, as they are helping support Putin’s brutal war of choice,” said Under Secretary for Terrorism and Financial Intelligence Brian Nelson.

Nelson said the US would work to ensure that the sanctions imposed would “degrade the Kremlin’s ability to project power and fund its invasion” of Ukraine.

Read more: Analysis: West’s failure to hold Syria’s Assad accountable motivated Russia’s Putin

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