The US Treasury continues to impose sanctions against individuals who assist in money laundering through the use of cryptocurrency with the aim of transferring funds for Russian elites and circumventing international sanctions. Earlier today, sanctions were imposed on a Russian citizen named Ekaterina Zhdanova. It was stated that Zhdanova had assisted in concealing a client’s wealth in Russia using cryptocurrencies.
Millions of Dollars of Illicit Funds Laundered
The Treasury Department disclosed that Zhdanova had managed virtual currency transfers for oligarchs moving funds worldwide and had assisted a Russian oligarch in transferring over $100 million to the United Arab Emirates on their behalf at one point.
Furthermore, Zhdanova was not only involved in money laundering but was found to have provided some clients with United Arab Emirates tax residency, identity cards, and bank accounts.
Treasury Department: More Sanctions to Come in the Coming Days
The Treasury Department stated that these sanctions aim to exert pressure on Russian entities and elites, discouraging money laundering efforts in Russia. They also announced that significant sanctions targeting individuals involved in managing international money transfers and engaging in such activities will continue to be imposed in the coming days.
