The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning almost 300 individuals and entities related to Russia.
According to OFAC, together with actions from the U.S. Department of State (State), this is the largest number of sanctions imposed since Russia’s full-scale invasion of Ukraine. State is designating three Government of Russia officials in connection with Navalny’s death; together, Treasury and State are sanctioning over 500 targets to impose additional costs for Russia’s repression, human rights abuses, and aggression against Ukraine.
The Department of Commerce is also adding more than 90 companies to the Entity List.
This solemn anniversary and Aleksey Navalny’s death in Russian custody are stark and tragic reminders of Putin’s brazen disregard for human life, from Ukrainians suffering the costs of his unprovoked war to people across Russia who dare to expose the corrupt abuses that fuel his regime
… said Secretary of the Treasury Janet L. Yellen.
State’s concurrent actions include sanctions on those involved in supporting Russian future energy revenue sources, maintaining Russia’s capacity to wage its war of aggression, and facilitating sanctions evasion and circumvention.
State is also taking steps to impose visa restrictions on Russian Federation-installed purported authorities involved in the transfer, deportation, and confinement of Ukraine’s children.
Sanctions evasion, circumvention, and backfill
In addition to individuals and entities located in Russia, OFAC continues to target persons outside of Russia who facilitate, orchestrate, engage in, and otherwise support the transfer of critical technology and equipment to Russia’s military-industrial base.
OFAC also will continue to impose sanctions on persons, wherever located, that allow Russia to reconnect to global financial markets using illicit channels.
Russia’s military-industrial base and other sectors of the Russian Federation economy
Foreign financial institutions that conduct or facilitate significant transactions, or provide any service, involving Russia’s military-industrial base—including any person designated pursuant to E.O. 14024 for operating or having operated in the technology, defence and related materiel, construction, aerospace, and manufacturing sectors of the Russian Federation economy—run the risk of being sanctioned by OFAC.
Russia’s military-industrial base may also include individuals and entities that support the sale, supply, or transfer of certain items or classes of items. OFAC has issued Guidance for Foreign Financial Institutions on OFAC Sanctions Authorities Targeting Support to Russia’s Military-Industrial Base.
The new sanctions continue Treasury’s campaign to disrupt and degrade Russia’s military-industrial base, with a focus on advanced manufacturing and technology such as machine tools, including computer numerically controlled (CNC) machines, which are used in Russia’s heavy machine-building and arms manufacturing industries; additive manufacturing (also known as 3D printing), of which Russia has increased its use for defense purposes, including creating special-purpose 3D printers for the production of UAVs, aircraft parts, and other military-related items; bearings, which are an integral component of Russia’s military hardware, including its main battle tanks; and other fields such as robotics, industrial automation and software, specialized lubricants, and lasers.
The new sanctions also target persons operating or having operated in other sectors of the Russian Federation economy, including the engineering, electronics, metals and mining, and transportation sectors.
