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OFAC sanctions Russia-linked individuals for interfering in elections

Financial Crimes OFAC Sanctions Russia Department of Treasury Of Interest to Non-US Persons

Financial Crimes

On September 10, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced its decision to sanction four Russia-linked individuals for allegedly attempting to influence the U.S. electoral process. According to OFAC, these designations are intended to “promot[e] accountability for Kremlin-linked individuals seeking to undermine confidence in U.S. democratic processes.” Three of the designated individuals are employed by the Internet Research Agency (IRA), a Russian “troll factory,” which was previously designated by OFAC along with its Russian financier, for providing material support to IRA activities. The three designated individuals allegedly supported the IRA’s cryptocurrency accounts, which OFAC claimed are used to “fund activities in furtherance of their ongoing malign influence operations around the world.” As a result, all property and interests in property belonging to, or owned by, the identified individuals subject to U.S. jurisdiction are blocked, and “any entities 50 percent or more owned by one or more designated persons are also blocked.” U.S. persons are also generally prohibited from engaging in transactions with the designated individuals.

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