ANNOUNCEMENT 08 May 2022

In May 2022, the Department of Treasury imposed sanctions on twenty-two Russian entities.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

U.S. Department of Treasury, Office of Foreign Assets Control, “Specially Designated Nationals List Update”. Available at: https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220508

U.S. Department of Treasure, Press Release, “U.S. Treasury Takes Sweeping Action Against Russia’s War Efforts”. Available at: https://home.treasury.gov/news/press-releases/jy0771

Inception date: 08 May 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 8 May 2022, the U.S. Department of Treasury imposed sanctions on twenty-two Russian entities said to be critical to Russia’s ability to attack Ukraine. Specifically, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) added these entities to the Specially Designated Nationals and Blocked Persons List (SDN List). The U.S. Treasury blocked all properties of these entities and prohibited U.S. persons from transacting with these entities.

These entities include a Russian state-owned bank, Joint Stock Company Moscow Industrial Bank (MIB), as well as its subsidiaries; a state-supported weapons manufacturer, Limited Liability Company Promtekhnologiya; and three Russia’s state-controlled television stations, namely Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company.

The U.S. Treasury also imposed sanctions on executives of several Russian financial entities including Sberbank and Gazprombank.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A