With deputies from multiple countries, the REPO Task Force targets crypto assets transactions used to evade sanctions imposed on Russian entities. Sanctions target individuals and entities involved in Crimea’s invasion, corruption, and human rights abuses to punish Russia and deter future aggression.
REPO task force targets illicit crypto transactions and money laundering schemes to counter Russian sanctions evasion. According to the task force, pro-Kremlin groups and propaganda outlets raised $5 million for their cause through crypto transactions.
The REPO team reiterated its commitment to imposing high costs on Russia as it continues its war of aggression. Their mission is to locate, freeze and deprive the Kremlin of funds by identifying and seizing the crypto assets of sanctioned Russians.
REPO Task Force Keeps Assets Immobilized Until End of Conflict
The Office of Foreign Assets Control at the U.S. Treasury and European Union counterparts have imposed strict sanctions against entities tied to Russia since the conflict in Ukraine began. Despite efforts, Russian occupation of Ukrainian territory persists, and many Ukrainian cities remain at risk of attack.
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REPO has announced that crypto assets tied to Russia under its members’ jurisdictions will remain “immobilized” until the conflict ends. The task force deems it crucial to deprive the Kremlin of financial resources to slow down the war machine and end the conflict.
REPO team is targeting crypto transactions to counter evolving sanctions evasion tactics as part of their broader efforts. Additionally, task force members must utilize all available tools to counter Russian aggression and uphold international law.
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