WASHINGTON —
Transkapitalbank is a Russian privately owned commercial bank which the U.S. says has helped sanctioned clients process dollar payments, by providing an alternative communication channel to SWIFT — the dominant system for global financial transactions.Treasury also targeted people and companies led by U.S.-designated Russian oligarch Konstantin Malofeyev — the founder of a Russian Orthodox news channel, Tsargrad TV.
Digital currency firm Bitriver AG and 10 of its subsidiaries were included in Wednesday’s package of sanctions from Treasury’s Office of Foreign Assets Control. Experts say an increased reliance on cryptocurrency would be an inevitable avenue for Russia to try to prop up its financial transactions, but Treasury officials have rejected the claim that cryptocurrency could be a major driver of sanctions evasion.