US Issues More Russia Sanctions
The U.S. on June 2 issued another round of Russia sanctions, targeting additional Russian oligarchs and elites close to Russia President Vladimir Putin. The sanctions also targeted Russian government officials and business leaders, the luxury property of elites, and luxury asset management and service companies key to Russian attempts to evade sanctions.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
The Office of Foreign Assets Control specifically identified several yachts linked to Putin, including Russia-flagged Graceful and Cayman Islands-flagged Olympia, as well as several entities linked to the boats. Also designated were San Marino-based SRL Skyline Aviation and its aircraft T7-OKY for operating in the Crimea region of Ukraine.
The State Department also announced a set of sanctions, including a designation targeting God Nisanov, "one of the richest men in Europe" and a close associate of Russian officials, and Maria Zakharova, the spokesperson of the Russian Ministry of Foreign Affairs. The agency also sanctioned Alexey Mordashov, the leader of private investment company Severgroup and one of Russia’s wealthiest billionaires, along with his wife and two adult children.
“Russia’s elites ... rely on complex support networks to hide, move, and maintain their wealth and luxury assets,” said Brian Nelson, the Treasury Department's undersecretary for Terrorism and Financial Intelligence. “Today’s action demonstrates that Treasury can and will go after those responsible for shielding and maintaining these ill-gotten interests. We will continue to enforce our sanctions and expose the corrupt systems by which President Putin and his elites enrich themselves.”
OFAC also issued updated General License No. 25B -- which allows certain transactions related to the "receipt or transmission of telecommunications" involving Russia -- and issued three new Russia-related general licenses. General license 36 authorizes certain transactions related to the wind-down of activities with Russian Public Joint Stock Company Severstal and any entity it owns by 50% or more through 12:01 a.m. EST Aug. 31. General license 37 authorizes certain transactions related to the wind-down of activities involving Nord Gold PLC or any entity it owns by 50% or more through 12:01 a.m. July 1. General License 38 authorizes certain transactions related to pension payments to U.S. persons that would normally be blocked by Executive Order 14024, a 2021 order that imposed sanctions against Russia.