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The US Treasury announced on Monday a fresh round of sanctions aimed at tightening the financial strains surrounding Russia’s war efforts in Ukraine. This time, the focus is on the Russian tech and financial sectors, particularly those dealing in virtual assets.

The Treasury’s Office of Foreign Assets Control (OFAC) has placed sanctions on 13 entities and two individuals. This action is aimed at disrupting Russia’s core financial infrastructure, essentially cutting off pathways that could lead to the evasion of Ukraine-related sanctions. Among those targeted is Atomyze, a fintech firm linked to Vladimir Potanin, a Russian billionaire already under sanctions. The firm is accused of working on behalf of Russian companies to tokenize precious metals and diamonds, in collaboration with sanctioned banks Rosbank and Sovcombank.

Atomyze’s notoriety on the sanctions list stems from its work in Russia’s digital finance space. Just weeks before Russian troops entered Ukraine, it secured the country’s first government license to issue and exchange digital financial assets. Following this, it launched a digital token backed by palladium from Nornickel, a metals producer also caught up in sanctions due to its association with Potanin.

The list of sanctioned entities also includes Lighthouse, a fintech firm that ran Russia’s first digital asset deal backed by cash in June 2022. The Treasury accused it of working closely with Russia’s central bank and major lenders, all of which are under sanctions.

Additional firms like B-Crypto, Masterchain, and Veb3 Technology are barred from engaging in transactions involving US dollars or accessing the US financial system.