By Nathan Meyer, consultant in compliance, for Eurasia Business News, October 31, 2024. Article No 1278.
US Treasury building in Washington D.C., United States. Photo credit : Eurasia Business News.
The Office of Foreign Assets Control of the US Department of the Treasury (OFAC) has updated the list of sanctions against Russia. It includes 32 individuals: citizens of Russia, Belarus, China, India, Turkey, Switzerland and Chile.
The action, taken by the U.S. Treasury and State departments, imposed sanctions on nearly 400 entities and individuals from more than a dozen different countries, according to statements from the departments.
OFAC has included five Russian Deputy Defense Ministers in the sanctions list: Alexander Fomin, Pavel Fradkov, Viktor Goremykin, Anna Tsivileva and Andrey Bulyga. The updated list also includes TMH CEO Kirill Lipa and tire manufacturer Cordiant, which was bought by Severgroup (owned by Alexei Mordashov). The list was replenished by Chip & Deep, NPP Zvezda and Rosatom Digital Solutions and Rosatom Microelectronics, which are part of the structure of Rosatom State Corporation.
A total of 20 Russians were included in the updated sanctions list. It also includes two Chinese citizens, four Turkish citizens, two Indian citizens, two Swiss citizens, a Greek citizen and a Chilean citizen.
The US Treasury Department has imposed sanctions on 274 entities.
The State Department has added more than 120 entities to the list to tighten controls. The Department of Commerce has included another 40 companies and research institutes in the list of trade restrictions due to their alleged support for the Russian military.
The United States has imposed sanctions against more than 350 structures from the Russian Federation, China, the UAE, Turkey, Switzerland, India, and Uzbekistan. According to the US financial department, the restrictions are aimed at the Russian military-industrial complex, as well as a “global network” of companies involved in circumventing restrictions against the Russian Federation. Inclusion in the sanctions list means freezing assets in the United States and prohibiting American citizens and companies from doing business with listed persons.
Restrictions have been imposed on 10 Emirati companies: Abu Ragueb General Trading LLC, Air Leo FZE, Apiline Trading FZE, Auto Parts East FZCO, Khromos Engineering, Moto Export DWC LLC, New Transshipment FZE, Smart Solutions LTD, Turboshaft FZE, V Link Aviation Management FZCO.
Earlier, on October 30, the U.S. Department of Commerce imposed export restrictions against more than 40 entities, including from Russia, China, India, Turkey, Malaysia, Finland, Estonia and Singapore. As follows from the statement of the U.S. department, restrictive measures were imposed on 13 entities from the Russian Federation, 11 from China, five from India, two from Malaysia, one from Singapore and 14 from Turkey. According to the U.S. authorities, they allegedly acted “against the national security and interests of the United States in foreign policy.”
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After the start of the war in Ukraine on February 24, 2022, Western countries regularly impose large-scale sanctions against the Russian Federation. In response, Russia is taking similar measures.
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© Copyright 2024 – Eurasia Business News. Article no. 1278.
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