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2 Nov, 2023 16:56

US announces major new sanctions on Russia

The punitive measures target legal entities, including some large banks, as well as individuals
US announces major new sanctions on Russia

The US Treasury Department has introduced new sanctions against dozens of individuals and legal entities in Russia, according to an official statement released on Thursday.

The Treasury’s Office of Foreign Assets Control (OFAC) added AFK Sistema, Arctic LNG-2, and several banks, including Russian Standard, Home Credit, Post Bank, Absolut Bank, and Russian Regional Development Bank, to its so-called Specially Designated Nationals (SDN) list.

The restrictions also target the St. Petersburg Stock Exchange, which reported it had suspended trading in foreign equities following the announcement.

Other institutions included the Bauman Moscow State Technical University and Gazprom Neft group entities.

Among the individuals on the register are Russian Deputy Minister of Industry and Trade Viktor Evtukhov and Russian engineer Aleksandr Zakharov, who participated in the development of the Lancet kamikaze drones, as well as members of his family.

Sanctions also targeted Yakub Zakriev, who headed Danone Russia after all foreign company shares had been transferred to the Russian Federal Property Management Agency, and his father, Salman Zakriev, the first deputy chairman of the Chechen Parliament.

Washington has also targeted some countries and private companies globally to ensure enforcement of its sanctions against Russia. Among those designated on Thursday were Turkish, Chinese, and UAE firms, including companies that supplied Russia with high-priority goods and aviation parts and equipment.

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