On Friday, January 26, 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned an additional nine entities, and 21 individuals related to Russia and Ukraine. In addition, OFAC identified 12 subsidiaries that are 50% or more owned by previously sanctioned Russian companies.
The action is related to Russia's occupation of Crimea and is intended to pressure Russia to fully implement its commitments under the Minsk agreements. U.S. Persons (1, 2) are generally prohibited from conducting transactions involving these persons (2).
"The U.S. government is committed to maintaining the sovereignty and territorial integrity of Ukraine and to targeting those who attempt to undermine the Minsk agreements," - Secretary of the Treasury Steven T. Mnuchin (3)
Summary of OFAC Actions Taken
- Designated 11 Ukrainian separatists - Pursuant to Executive Order (EO) 13660
- Designated 3 individuals and 4 entities (ZAO Vneshtorgservis, Gaz-Alyans OOO, Doncoaltrade Sp. ZOO and Ugolnye Tekhnologii OOO) who have supported the illicit coal trade - Pursuant to EO 13660
- Authorized sanctions against 4 individuals and 2 entities (Evro Polis Ltd., Instar Logistics) related to the Russian government - Pursuant to EO 13661
- Authorized sanctions against one construction entity (VAD, AO) and two associated individuals - Pursuant to EO 13685
- Designated one individual and 2 entities (Limited Liability Company Foreign Economic Association Technopromexport, PJSC Power Machines) related to Russia's transfer of four turbines to Crimea
- Identified 12 subsidiaries of Surgutneftegaz as being 50% or more owned by Surgutneftegaz which was added to the Sectoral Sanctions Identification list in September 2014
- Kaliningradnefteprodukt OOO
- Kinef OOO
- Kirishiavtoservis OOO
- Lengiproneftekhim OOO
- Media-Invest OOO
- Novgorodnefteprodukt OOO
- Pskovnefteprodukt OOO
- Sngb AO
- SO Tvernefteprodukt OOO
- Sovkhoz Chervishevski PAO
- Strakhovove Obshchestvo Surgutneftegaz OOO
- Surgutmebel OOO
References and Key Link(s):
- (1) 31 CFR 589.307 - "The term person means an individual or entity."
- (2) 31 CFR 589.312 - "The term United States person or U.S. person means any United States citizen, permanent resident alien, entity organized under the laws of the United States or any jurisdiction within the United States (including foreign branches), or any person in the United States.
- (3) U.S. Department of the Treasury Press Release - "Treasury Sanctions Additional Individuals and Entities in Connection with the Conflict in Ukraine and Russia's Occupation of Crimea" - 1/26/2018
- Executive Order 13660 - 3/6/2014
- Executive Order 13661 - 3/16/2014
- Executive Order 13685 - 12/19/2014
- Minsk Agreement Protocol Press Release (Russian) - "Organization for Security and Co-operation in Europe" - 9/5/2014
- OFAC - Office of Foreign Assets Control
- OFAC Resource Center - Russia/Ukraine-related Designations and Identifications - 1/26/2018
- US Department of the Treasury