The US Treasury Department has imposed new sanctions on multiple individuals and legal entities in Russia. These measures aim to put pressure on the Russian government and its supporters for their alleged involvement in nefarious activities. The Treasury’s Office of Foreign Assets Control (OFAC) has added several banks, including Russian Standard, Home Credit, Post Bank, Absolut Bank, and Russian Regional Development Bank, to its Specially Designated Nationals (SDN) list. This list includes entities that are subject to asset freezes and other restrictions.
Furthermore, the punitive measures also target AFK Sistema, Arctic LNG-2, and the St. Petersburg Stock Exchange. In response to the sanctions, the St. Petersburg Stock Exchange has reportedly suspended trading in foreign equities. Other institutions affected by the sanctions include the Bauman Moscow State Technical University and structures of Gazprom Neft.
Among the individuals on the sanctions list are Russian Deputy Minister of Industry and Trade Viktor Evtukhov and Russian engineer Aleksandr Zakharov. Zakharov is known for his involvement in the development of the Lancet kamikaze drones. Additionally, the sanctions target members of Zakharov’s family. Yakub Zakriev, who previously headed Danone Russia after the transfer of foreign company shares to the Russian Federal Property Management Agency, and his father Salman Zakriev, the first deputy chairman of the Chechen Parliament, are also subject to the sanctions.
It is worth noting that the US government has also imposed sanctions on individuals and companies from other countries in order to enforce its sanctions against Russia. This includes Turkish, Chinese, and UAE firms that have supplied Russia with high-priority goods and aviation parts and equipment.
These latest sanctions are part of the US government’s continued efforts to pressure Russia over its alleged involvement in various activities. By targeting both individuals and legal entities, the US hopes to disrupt and deter any behavior it deems to be against its national interests.
The effects of these sanctions are not limited to Russia alone. As we have seen, companies and individuals from other countries have also been impacted. This highlights the global reach of the US sanctions regime and serves as a reminder to all individuals and entities engaged in business with Russia to carefully consider the potential consequences of such actions.
In conclusion, the US Treasury Department has imposed new sanctions on numerous individuals and legal entities in Russia. These measures aim to put pressure on the Russian government and its supporters, as well as to enforce the US government’s broader sanctions regime. The impact of these sanctions goes beyond Russia, affecting companies and individuals from other countries. As such, it is important for all actors in the international business community to be aware of and consider the potential ramifications of engaging with Russian entities under the current geopolitical climate.