OFAC sanctions individuals and entites for sanctions evasion and other activities related to Russia and Ukraine
The US Department of the Treasury has designated and identified a number of entities and individuals under four executive orders relating to Ukraine and Russia.
Designations Regarding Sanctions Evasion (E.O. 13661)
E.O. 13661 authorizes sanctions on, among others, officials of the Russian Government and any individual or entity that is owned or controlled by, that has acted for or on behalf of, or that has provided material or other support to, a senior Russian government official. The latest sanctions targets are three entities and eleven individuals allegedly linked to designated persons Gennady Timchenko, Arkady Rotenberg, Boris Rotenberg, Kalashnikov Concern, and Izhevsky Mekhanichesky Zavod JSC (also known as Baikal), all of whom are alleged to have engaged in "serious and sustained sanctions evasion".
Designations Regarding Separatists (E.O. 13660)
E.O. 13660 targets those responsible for or complicit in actions or policies that threaten the peace, security, stability, sovereignty, or territorial integrity of Ukraine, for acting for or on behalf of previously designated groups as leaders of such entities, or for asserting governmental authority over a part or region of Ukraine without the authorization of the Government of Ukraine.
The latest targets are eight individuals who are already subject to asset freeze measures imposed by the EU.
Designations Regarding Crimean Entities (E.O. 13685)
E.O. 13685 authorizes sanctions on, among others, any person determined to be operating in the Crimea region of Ukraine in violation of E.O. 13685.
Twelve entities have been identified as targets for asset freeze:
- Joint Stock Company Genbank
- Open Joint Stock Company Krasnodar Regional Investment Bank
- Open Joint Stock Company Commercial Bank Verkhnevolzhsky
- Sevastopolsky Morskoy Bank
- State Enterprise Universal-Avia
- Crimean Enterprise Azov Distillery Plant
- State Concern National Production and Agricultural Association Massandra
- State Enterprise Factory of Sparkling Wine Novy Svet
- State Enterprise Magarach of the National Institute of Wine
- Resort Nizhnyaya Oreanda
- Yalta Film Studio
Identifications Under the Sectoral Sanctions Identification List (E.O. 13662)
EO 13662 authorises the imposition of financing restrictions (prohibitions in respect of transacting in, financing, or dealing in new debt) against entities in Russia's financial, energy, and defence sectors.
OFAC has added 88 entities to its Sectoral Sanctions Identification List, identified as being subsidiaries of VTB Bank, Sberbank, and Rostec which are already subject to financing restrictions.
Reaction from Russia
The Russian Government has issued a statement indicating that it is considering its position and may impose counter measures.
Full details of the latest OFAC designations can be found at this link: