OFAC Updates Cuba-Related Sanctions and Lists

The Office of Foreign Assets Control (OFAC) has released a new Cuba-related FAQ (number 1262) and updated its list of Specially Designated Nationals and Blocked Persons. Among those designated is Dmytro Rashevskyi, a Ukrainian individual with multiple digital currency addresses across Bitcoin, Ethereum, Litecoin, Zcash, Dash, TRX, Dogecoin, and Solana. Several organizations based in Cuba, including the Association of Combatants of the Cuban Revolution, COREYDAN S.A., and others involved in fuel wholesale, management consultancy, and government activities, have been added or updated on the list. Additionally, a Ukrainian individual, Yevgeniy Silayev, has been designated.

These actions reflect ongoing US efforts to enforce sanctions and restrict financial activities linked to certain individuals and entities, particularly those associated with Cuba and other regions under US sanctions. The designation of digital currency addresses indicates a focus on cryptocurrency-related activities.

For the crypto ecosystem, such designations can impact the ability of affected individuals and organizations to access US-based financial services or engage in certain transactions. It also signals increased scrutiny of crypto addresses linked to sanctioned entities, which could influence compliance practices within the industry.