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OFAC Delists Swiss Consultant, Companies That Did Russia Business

The U.S. last week removed sanctions from a Swiss business consultant, his two sons and his companies because they ended their business in Russia, a Treasury Department spokesperson said.

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The move deleted Alexander-Walter Studhalter from the Specially Designated National List, along with sons Jeremy Eric Camille Studhalter, Hugo Ange Christophe Studhalter and eight companies. One of the companies is Swiss International Advisory Group AG, where both of Studhalter's sons served in senior leadership roles. The Office of Foreign Assets Control had sanctioned them in 2022, partly for helping to manage the companies of Suleiman Abusaidovich Kerimov, a sanctioned Russian government official.

"The goal of Treasury’s sanctions is to bring about a positive change in behavior," an agency spokesperson said June 7. "OFAC has removed Studhalter from the SDN List as the result of such a change in behavior."