OFAC Levels New Sanctions on Parties Accused of Ukraine Destablization, BIS also Takes Action
The Treasury Department’s Office of Foreign Assets Control (OFAC) added 20 new Russian and Ukrainian entries to the Specially Designated Nationals (SDN) list on July 16. The Commerce Department’s Bureau of Industry and Security followed up on the OFAC measure by adding 11 entities (here), also sanctioned by OFAC, to the Entity List. White House Press Secretary Josh Earnest said during a July 16 press conference hours before OFAC announced the sanctions the U.S. is prepared to “take the kind of steps” necessary to address turmoil in Ukraine.
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Many U.S. industry officials and lawmakers, however, have warned over recent months that unilateral sanctions may fail to accomplish the stated goals of robust economic pressure and de-escalation in Ukraine. “While today’s announcement seeks to apply a targeted approach to certain subsectors, the NAM is disappointed that the US is fundamentally extending sanctions in increasingly unilateral ways that will undermine US commercial engagement and reduce the effectiveness of the measures imposed,” said National Association of Manufacturers Vice President of International Economic Affairs Linda Dempsey in a July 16 email statement. “It remains vitally important that our European and other allies work closely with the United States.”
OFAC added the following Russians citizens to the SDN list:
- Beseda, Sergey (Russian Federal Security Service Commander)
- Borodai, Aleksandr
- Neverov, Sergei Ivanovich (Deputy Chairman Of The Russian Duma)
- Savelyev, Oleg Genrikhovich (Russian Minister For Crimean Affairs)
- Shchegolev, Igor (Aide to Russian President Vladimir Putin)
OFAC added the following Russian and Ukrainian entities to the SDN list (BIS also added these entities to the Entity List):
- Donetsk People's Republic, (Ukraine)
- Federal State Unitary Enterprise State Research And Production Enterprise Bazalt (Russia)
- Feodosiya Enterprise (Crimea, Ukraine)
- Joint Stock Company Concern Radio-Electronic Technologies (Russia)
- Joint Stock Company Concern Sozvezdie (Russia)
- Joint Stock Company Military-Industrial Corporation Npo Mashinostroyenia (Russia)
- Joint-Stock Company Concern Almaz-Antey (Russia)
- Kalashnikov Concern (Russia)
- Konstruktorskoe Byuro Priborostroeniya Otkrytoe Aktsionernoe Obshchestvo (Russia)
- Luhansk People's Republic (Ukraine)
- Uralvagonzavod (Russia)
OFAC also added the following entities to its Sectoral Sanctions Identifications List:
- Gazprombank Oao (Russia)
- Oao Novatek (Russia)
- Open Joint-Stock Company Rosneft Oil Company (Russia)
- Vnesheconombank (Russia)