US sanctions Russian bank, oligarch, currency mining company

By Servet Gunerigok

WASHINGTON (AA) - The US Treasury Department designated a Russian bank, an oligarch and a virtual currency mining company on Wednesday for allegedly evading sanctions imposed by Washington and its allies for the war in Ukraine.

Commercial bank Transkapitalbank, a global network led by Russian oligarch Konstantin Malofeyev, and virtual currency mining company, Bitriver, were singled out as part of the designations by the Office of Foreign Assets Control (OFAC).

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

"The United States will work to ensure that the sanctions we have imposed, in close coordination with our international partners, degrade the Kremlin’s ability to project power and fund its invasion," he added.

The Russian war on Ukraine prompted the US and its allies in the West to impose sweeping sanctions on Moscow.

At least 2,224 civilians have been killed and 2,897 injured in Ukraine in the war that started Feb. 24, according to UN estimates, with the true figure believed to be much higher.

More than 5 million Ukrainians have fled to other countries, with over 7 million more internally displaced, said the UN refugee agency.