Treasury Expands Russia Sanctions EO, Designates Largest Russian Chip Maker
The Treasury Department this week expanded its sanctions authorities to cover Russia’s aerospace, electronics and marine sectors, building on an April 2021 executive order that targeted the country’s defense and technology sectors (see 2104150019). Treasury also announced a host of new designations against Russian people and entities, including the country’s largest chip maker.
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In a March 31 determination, Treasury said it can now impose sanctions on any individual or entity determined “to operate or have operated” in the three new Russian sectors. “We will continue to target [Russian President Vladimir] Putin’s war machine with sanctions from every angle, until this senseless war of choice is over,” Treasury Secretary Janey Yellen said.
The agency also sanctioned 13 people and 21 entities, including Joint Stock Company Mikron, which is responsible for more than half of Russia’s microeconomics exports and is the country’s largest chip maker. Treasury also used the authority granted by the April 2021 executive order to sanction T-Platforms, a Moscow-based computing equipment company; AO NII-Vektor, a St. Petersburg-based software and communications technology company; and Molecular Electronics Research Institute, Joint Stock Company, a research institute that manufactures computers, search and navigation equipment for the Russian government.
Also designated are companies participating in a Russian sanctions-evasion network, including OOO Serniya Engineering and OOO Sertal, which work to “illicitly procure dual-use equipment and technology for Russia’s defense sector.” Treasury also sanctioned various front companies used by Russian entities to evade sanctions -- including companies based in the U.K., Singapore and Spain -- and officials who help run the network.