• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / World / Latest Russian Sanctions Round by the US Goes for Bitcoin Mining Company
Latest Russian Sanctions Round by the US Goes for Bitcoin Mining Company

Latest Russian Sanctions Round by the US Goes for Bitcoin Mining Company

April 22, 2022 by Goku

The US Treasury Department stated on Wednesday that it had broadened its list of sanctions to include firms and persons who are suspected of assisting Russia in evading the impact of economic sanctions placed on the country.

Treasury sources said the agency is now focusing on Russian commercial bank Transkapitalbank and a network of more than 40 people, including tycoon Konstantin Malofeyev, who they say helped the Kremlin avoid a wave of economic sanctions.

The Biden administration also stated it is tightening down on enterprises that help Russia monetize its exports and other natural resources, such as Bitriver, that operate in the virtual currency mining sector.

US sanctions the first Russian Bitcoin mining company

Since the war on February 24, the United States has implemented multiple rounds of sanctions. Sanctions have been imposed on the country’s top banks and lenders, as well as cryptocurrency exchanges. “Having operated in the Russian Federation economy’s technology sector,” Bitriver was labeled.

Bitriver claims to be the world’s largest provider of environmentally-friendly cryptocurrency mining, having been created in 2017. It boasts a 100-megawatt renewable energy data center in Bratsk, Siberia, with 75,000 miners.

According to the Treasury Department, the company sold mining capacity to overseas clients, allowing Russia to “monetize its natural resources.” It went on to say:

“Russia has a comparative advantage in crypto mining due to energy resources and a cold climate. However, mining companies rely on imported computer equipment and fiat payments, which makes them vulnerable to sanctions.”

Anti-industry lawmakers in the United States have been increasing their rhetoric, believing that the country exploits crypto assets to dodge sanctions.

The Treasury Department defined crypto transactions to be “deceptive or organized transactions or deals” that might be exploited in sanctions evasion just days after the invasion in February.

The International Monetary Fund (IMF) echoed this opinion this week, warning that nations such as Russia and Iran may utilize cryptocurrencies to circumvent sanctions.

However, economists and industry experts have slammed the idea that the country will turn to crypto to dodge sanctions.

Filed Under: World, News Tagged With: Bitcoin Mining, Russian Sanctions, US

Primary Sidebar

Recent Posts

  • Best Crypto Casinos Canada: 5 Most Trusted Canadian Casino Sites For Gamblers (Exclusive Bonuses) June 19, 2025
  • Dogecoin Triggers Rare Bearish MACD Crossover; Eyes Drop to $0.12 June 19, 2025
  • Trump Cryptocurrency Discussions Focus on Regulation, Bitcoin Solaris Focuses on Making TRON-Level Returns June 19, 2025
  • Nobitex Breach: Iran Limits Crypto Exchange Hours After $100 Million Hack June 19, 2025
  • Missed Early PEPE or SHIBA? MAGACOIN FINANCE Is Now the Top Memecoin Presale of 2025 June 19, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.