Russia has been punished with severe sanctions from numerous nations.
Moscow has imposed financial and travel restrictions on the 500 people on the list.
Binance’s U.S. Head of Investigation BJ Kang was recently added to Russia’s list of 500 sanctioned individuals after the company hired him in October of last year. Vladimir Putin has a black list that includes many Americans, including New York’s Attorney General, Letitia James.
Russia has retaliated against the United States for the sanctions imposed on it for the situation in Ukraine by going after former President Barack Obama and adding him to the list as well. Moreover, Russia has imposed financial and travel restrictions on the 500 people and entities included in the sanctions.
Russians Evading Sanctions
After more than a month of invasion, Russia has been punished with severe sanctions from numerous nations in an attempt to force Moscow to consider peace negotiations with Ukraine. At first, it was thought that the primary cryptocurrency exchange would not comply with U.S. sanctions on Russia. Changpeng “CZ” Zhao, CEO of Binance, said that the exchange was complying with the ruling.
He continued by saying that Binance has formed a team to block users from countries on the sanctions list from accessing the cryptocurrency exchange. A year ago, when it became clear that the vast bulk of traffic on Binance, OKX, and Huobi, originated in Russia, it was widely anticipated that the United States would take action against these companies.
Two weeks ago, it became apparent that Russians may have used Binance to evade sanctions, so the Department of Justice renewed its investigation into the exchange. Despite Kang’s inclusion on Putin’s blacklist, the agency has not yet validated Binance’s presence in Russia.