Russia:130 new sanctions from the National Wealth Source for Russian corporationsRussia:130 new sanctions from the National Wealth Source for Russian corporations

The U.S. Office of Foreign Assets Control (OFAC) continues to disrupt the networks and channels through which Russia is trying to sustain its depleted military power. Today's sanctions target individuals and organizations that are assisting Russia in its inhumane war against Ukraine by providing the necessary technology and equipment from third countries. Additionally, these measures are aimed at Russia's domestic industrial base, which is seeking to pivot towards supporting Russia's military machine. With these additional sanctions, the Department of the Treasury is disrupting manufacturers, exporters, and importers of nearly all high-priority goods identified by the international coalition imposing sanctions and export controls on Russia.

"Russia relies on ready-made individuals and organizations from third countries to replenish its army and sustain its brutal war against Ukraine, and we will not hesitate to hold them accountable," said Treasury Secretary Janet L. Yellen. "Our global coalition of sanctions has deprived Russia of access to key components for its military-industrial complex and undermined the Kremlin's ability to conduct its unjustified war. Today's actions demonstrate our continued determination to disrupt every link in the Russian military supply chain and target external actors who seek to support Russia's military efforts."

The U.S. State Department is also imposing nearly 100 sanctions targeting Russia's future energy production and revenues, the metallurgy and mining sectors, defense procurement, and individuals supporting the military efforts of the Russian government and other harmful activities.

OFAC continues to hinder Russia's international supply chains, which is unable to independently produce a large portion of the technology, equipment, and other materials necessary to sustain its military-industrial complex. Russia continues to utilize otherwise legitimate economic relations with the People's Republic of China, Turkey, and the United Arab Emirates, which have become hubs for the export, re-export, and transshipment of foreign technology and equipment to Russia. OFAC continues to work with partners to prevent further evasion of sanctions and violations of export controls by Russia through their jurisdictions.

Companies from China, Turkey, and the UAE continue to send high-priority dual-use goods to Russia, including critically important components that Russia relies on for its military systems ("high-priority goods"). At the same time, OFAC will continue to work with the governments of China, Turkey, and the UAE to address potential vulnerabilities in sanctions and export controls in the spirit of mutually beneficial cooperation. OFAC will not hesitate to take action to prevent Russia from using the American and international financial system to sustain its aggression against Ukraine.

OFAC is also taking steps to disrupt the network in the UAE involved in illegal financial operations related to Russia.

As a result of today's actions, all assets and interests in assets of individuals located in the United States or owned or controlled by American persons are blocked and must be transferred to OFAC. Additionally, all transactions by American persons or within (or transiting through) the United States that relate to any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or are exempt. These prohibitions include providing any funds, goods, or services to blocked persons, and receiving any funds, goods, or services from such persons.

OFAC continues to exert pressure on the Russian technology sector. Today's measures target Russian organizations and individuals that finance, research, develop, or import advanced technologies, including Russia's financial technology conglomerate, "Sistem."

OFAC also imposes sanctions on seven banks, the CEO of one of these banks, and one Russian financial infrastructure organization based in St. Petersburg.

As a result of today's measures, all property and interests in property of the specified individuals located in the United States or owned or controlled by American persons are blocked and must be transferred to OFAC. Additionally, all transactions by American persons or within (or transiting through) the United States that relate to any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or are exempt. These prohibitions include providing any funds, goods, or services to blocked persons, and receiving any funds, goods, or services from such persons.