OFAC Adds Russian Bank and Crypto Mining Entities to SDN List

OFAC updated its Specifically Designated Nationals and Blocked Persons List to include additional Russian individuals and enterprises.

OFAC designated Transkapitalbank (a commercial bank) and related individuals, as well as a number of Russian entities engaged in cryptocurrency mining, including BitRiver AG. OFAC noted that this is the first time the Treasury department is targeting Russia's crypto industry - reported to be the third-largest in the world.

OFAC also released General License 28 and General License 29 under the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587, both relating to Transkapitalbank.