US, Canada, EU Announce New Russian Sanctions
The U.S., the European Union and Canada announced additional Russian sanctions stemming from Russia's actions in Ukraine, according to media reports and a March 15 announcement by the U.S. Treasury Department. Treasury's Office of Foreign Assets Control added six people and eight entities to its Specially Designated Nationals List, OFAC said in a notice, while Canada reportedly imposed sanctions on 114 people and 15 entities and the EU targeted eight security service officials and military commanders. Individuals or companies who trade with any of the blocked people or entities may be penalized under U.S. sanctions.
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The additions to U.S.'s SDN List were made in response to "Russia's continued and ongoing aggression in Ukraine," according to the Treasury announcement. The designations targeted individuals who aided Russia's "unjustified attacks on Ukrainian naval vessels in the Kerch Strait, the purported annexation of Crimea, and backing of illegitimate separatist government elections in eastern Ukraine," it said. "These actions complement sanctions also taken today by the European Union and Canada, and underscore the strength and commitment of the transatlantic partnership to counter Russia’s continued destabilizing behavior and malign activities."
Among the individuals sanctioned by OFAC were four Russian officials who the agency said were involved in the Kerch Strait attack, Treasury said, including senior leaders of the Russian Federal Security Service's Border Guard Service, Border Directorate and Coast Guard Unit. OFAC's designations also targeted six Russian defense firms associated with Crimea, including several "which misappropriated Ukrainian state assets to provide services to the Russian military." Those firms are Yaroslavsky Shipbuilding Plant, Zelenodolsk Shipyard Plant, AO Kontsern Okeanpribor, PAO Zvezda, AO Zavod Fiolent and GUP RK KTB Sudokompozit, Treasury said. The other two sanctioned entities are LLC SK Consol-Stroi LTD and LLC Novye Proekty, both of which operate in the Crimea region of Ukraine, Treasury said.
In a statement, Treasury Secretary Steven Mnuchin said the "international community is strongly aligned" on imposing Russian sanctions, adding that "this joint initiative with our partners in the European Union and Canada reinforces our shared commitment to impose targeted and meaningful sanctions in response to the Kremlin’s attempts to disregard international norms and undermine Ukraine’s sovereignty and territorial integrity."
The sanctions come about a month after a bipartisan group of senators introduced a revised version of a bill that would impose stronger sanctions on Russia over its interference in Ukraine and U.S. elections. Targets of the bill, according to a Reuters report, are Russian banks, the country's cyber sector and individuals who acted corruptly on behalf of Russian President Vladimir Putin. Trade lawyer Greta Lichtenbaum said she "wouldn't be surprised" if the bill passes, adding that businesses should tread carefully around doing business with companies in certain Russian industries, specifically those in the energy and finance sectors. "Anyone doing business in Russia needs to be careful about who they're doing business with," Lichtenbaum said in a recent interview. "You have to be super careful you're not crossing the lines."