In addition, OFAC issued general licenses related to today's actions, see #201955.
In conjunction with actions taken by the US State Dept designating over 500 targets.
Designations Overview
Largest number of designations imposed since Russia’s full-scale invasion of Ukraine.
US State Dept is designating 3 Russian officials in connection with Navalny’s death.
Department of Commerce is also adding more than 90 companies to the Entity List.
Aim to deny Russia the resources necessary to support its brutal war against Ukraine.
Targets including a major cog in Russia’s financial infrastructure; more than two dozen third-country sanctions evaders in Europe, East Asia, Central Asia, and the Middle East
Hundreds of entities in Russia’s military-industrial base and other key sectors.
OFAC is targeting Russia’s core financial infrastructure, including the operator of the Mir National Payment System and Russian banks, investment firms, and fintechs.
National Payment Card System Joint Stock Company (NSPK) is state-owned operator of Mir National Payment System; plays key role in facilitating financial transactions.
Mir has allowed Russia to build out a financial infrastructure that enables its efforts to evade sanctions and reconstitute severed connections to international financial system.
US has repeatedly emphasized the risks of Mir system to partners around the globe.
NSPK is named EO 14024 for operating in financial services sector of Russian economy.
OFAC also designated 9 regional financial institutions, including several headquartered in Russian military-industrial base hubs; five investment and venture capital funds.
Said funds seek to underwrite development of advanced, next-generation technology.
Funds also see to inject domestic and foreign investment into Russian companies.
OFAC further named 6 fintechs that provide software and IT solutions to financial firms
Sanctions Evasion Facilitators
OFAC targeted third-country facilitators whose actions enable Russia's war machine.
Targets located across world and include exporters and transhippers of technology. Freight forwarder involved in weapons shipments to Russia, and a transnational money laundering network facilitating the illicit movement of Russian-origin precious metals.
In all, OFAC today targeted 26 third-country entities and individuals in 11 countries.
Including facilitators in China, Serbia, the United Arab Emirates, and Liechtenstein.
Several in China, such as Jiangxi Liansheng Technology, which shipped micro- electronics, optical laboratory accessories, and other technological equipment to Russia
Also several in other countries, such as Serbia's Kominvex DOO Beograd, which exported millions of dollars’ worth of goods and equipment to Russian electronics
Serbia national Marko Svorcan is named for being the director and owner of Kominvex.
Rheingold Edelmetall AG is a Liechtenstein-based precious metals investment firm owned and directed by German nationals Axel Paul Diegelmann and Fritz Diegelmann.
Alabuga UAC Procurement Network
Network through which Russia acquires and produces unmanned aerial vehicles (UAVs)
Russia and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) have cooperated to finance and produce Iranian-designed one-way attack UAVs.
At a newly established a facility in Russia in the Alabuga Special Economic Zone.
JSC Special Economic Zone of Industrial Production Alabuga (SEZ Alabuga)
This network has facilitated shipments, conducted financial transactions, and engaged in industrial production in support of this cooperation between Russian and Iran.
Also Albatros OOO, Limited Liability Company Drake, Alabuga Development OOO.
Russia's Military-Industrial Base, Other Sectors
Increasing number of entities in Russia are contributing to Russia’s war machine.
Due to overheating war economy cannibalizing non-defense-related production. at the
Targets weapons production, including entities and individuals such as Russia-based Aktsionernoe Obshchestvo Zavod Elekon and company Joint Stock Company Plant N9
Since Feb. 2022, the US has sanctioned over 2,000 Russia-based entities.
US Treasury Yellen Remarks
Yellen said on this solemn anniversary and Aleksey Navalny’s death in Russian custody are stark and tragic reminders of Vladimir Putin’s brazen disregard for human life.
As shown by Ukrainians suffering the costs of Putin's unprovoked war to people across Russia who dare to expose the corrupt abuses that fuel his regime, added Yellen.
It’s critical that Congress steps up to join our allies around the world in giving Ukraine the means to defend itself and its freedom against Putin’s barbarous assault.
Russia-Related FAQs
FAQs 1164, 1165, 1166 clarify scope of sanctions on Russian diamond, jewelry sector.
FAQs 886 clarifies scope of specified harmful foreign activities of RUS government.
As for FAQ 887, explains Directive 3 prohibitions; FAQ 1092 confirms non-U.S. companies' risk exposure to sanctions for providing military goods, support to Russia.
FAQ 1019 explains what is meant by the term, Russian Federation origin; FAQs 1022, FAQ 1025, 1027, and 1154 cover imports, exports, and new investment re Russia.
Mar. 2024 OFAC FAQ 1166 Diamond Determination
On Mar. 4, 2024, OFAC updated FAQ 1166 regarding prohibition of diamond imports.
FAQ 1166 explains the scope of the Diamond Jewelry Determination's prohibitions.
Apr. 2024 OFAC List Updates
On Apr. 18, 2024, OFAC made updates to Russia-related entries on the OFAC List for GTS GRUPP and Georgii Semenovich Pogiblov; for immediate effectiveness.
Apr. 24, 2024 OFAC Federal Register
On Apr. 24, 2024, OFAC published Russian vessel designations in the federal register.
May 2024 OFAC Entry Update
On May 24, 2024, OFAC updated the specially designated national (SDN) entry of Joint Stock Company Special Economic Zone of Industrial Production Alabuga.
Jun. 2024 US State Dept Federal Register
On Jun. 12, 2024, US State Dept published Feb. 2024 designation in federal register.
