OFAC Sanctions Target Kyrgyz Firms for Russian Sanctions Evasion

The US Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on firms in Kyrgyzstan, alleging they aided Russians in circumventing economic sanctions using digital assets. The action primarily targets stablecoin issuers and cryptocurrency exchanges believed to be involved in these activities. Notable entities impacted include Garantex, Grinex, and the A7A5 token issued by Old Vector LLC.