Washington DC, 6 April 2022 (TDI): Antony Blinken, the Secretary of State of the United States (US), announced that the US has decided to sanction more Russian entities over Russia’s war in Ukraine.
According to the statement, the United States has targeted Hydra, the world’s largest darknet market for Russian speakers, along with the virtual currency exchange Garantex, for sanctions.
Moreover, the Secretary also revealed that the decision was coordinated with Germany. German Federal Criminal Police announced it had shut down Hydra’s servers in Germany and seized more than $25 million worth of Bitcoin (BTC) connected to the marketplace.
Antony Blinken said, “Today’s action demonstrates our commitment to continue disrupting ransomware infrastructure and actors”. The authorities allege that Garantex facilitated illicit activities for their own gains.
Authorities claim that Hydra has engaged in several ransomware attacks. The sanctions are a part of an international effort that aims to disrupt the “proliferation of malicious cybercrime services, dangerous drugs, and other illegal offerings.”
US-led Sanctions Against Russia
The US and its allies started sanctioning Russia in 2014 when it annexed Crimea. The same year, following the unrest in Ukraine, two major cities in the Donbas region of Eastern Ukraine declared independence.
They also accused Russia of supporting the separatists. Meanwhile, the US also targeted Russia over its military support to Syria’s Bashar Al-Assad. However, the sanctions were mild and failed to achieve adequate pressure against Russia.
The US-led Western allies announced a fresh series of sanctions against Russia after its invasion of Ukraine. These sanctions are harsh and have adversely affected the Russian economy.
The sanctions target the energy sector (Russian oil and gas), banking and financial sector, trade, and technological transfers among others.
As a result, American companies are unable to sell navigation tools, computers, marine equipment, lasers, and aerospace technologies to Russia.
The sanctions are continually expanding to more individuals, companies, and sanctions. Moreover, US and its allies also targeted individuals suspected of being connected to the Russian regime.
These individuals include Sergei Sergeevich Ivanov, Andrey Patrushev, Ivan Igorevich Sechin, Alexander Aleksandrovich Vedyakhin, Andrey Sergeyevich Puchkov, and Yuri Alekseyevich Soloviev.