Washed $500 million and bypassed sanctions: Russian detained in the US for purchasing sensitive technologies

Russian crypto entrepreneur Yuri Gugnin was arrested in the US for circumventing sanctions against Russia and violating export control. According to the investigation, Gugnin laundered over $500 million and helped Russian citizens acquire American technologies.

Federal prosecutor Joseph Nochalla noted that Gugnin arrived in the US and created a money laundering scheme through a cryptocurrency startup, which allowed him to bypass sanctions and export restrictions, as well as deceive American financial institutions.

The prosecution claims that Gugnin conducted transactions on behalf of foreign clients involving American electronics requiring export control, as well as spare parts for the Russian state company 'Rosatom.'

Charges against Gugnin for bank fraud and money laundering have been confirmed by the US Department of Justice. The assistant attorney general emphasized that the crypto entrepreneur used his company as a disguise channel to convert tainted funds into cash.

US Reaction to China's Ban on Advanced Technologies

In light of China's intentions regarding advanced microchips and the equipment for their production, the US is considering a plan to increase restrictions to prevent the transfer of its technologies to China that could be used for military purposes.

According to Bloomberg, the amendments aim to strengthen existing restrictions on China that are already in place today.

A Russian crypto entrepreneur, Yuri Gugnin, has been arrested in the US for circumventing sanctions and violating export control. He is accused of money laundering and helping Russians acquire secret American technologies. New restrictions for China, which has shown interest in advanced technologies, are also being considered.