The Office of Foreign Assets Control on March 11 sanctioned Russian people and entities for aiding North Korea's weapons of mass destruction and ballistic missile programs. The designations target Russia-based Apollon OOO; Zeel – M Co., Ltd; and RK Briz, OOO for providing procurement, financial or technological support for North Korea's military industry. OFAC also sanctioned Apollon OOO director Aleksandr Andreyevich Gayevoy and Zeel – M Co., Ltd director Aleksandr Aleksandrovich Chasovnikov.
The U.S. announced a set of new export controls and sanctions against Russia last week, including new restrictions on luxury goods and full blocking sanctions on Russian government officials and bank executives. The measures, outlined in a March 11 executive order, also include new banking and financing-related restrictions meant to further cut Russia’s economy off from the global financial system and target Russian oligarchs.
The Office of Foreign Assets Control announced sanctions on 26 Russian individuals and seven entities connected with cyber attacks and election interference in the U.S. OFAC determined that the property and interests in property subject to U.S. jurisdiction of the designated persons and entities are blocked.
The Office of Foreign Assets Control announced sanctions on eight Russian individuals, six entities, one water vessel and one aircraft. OFAC determined that the property and interests in property subject to U.S. jurisdiction of the designated persons and entities are blocked. The sanctions were pursuant to Executive Order 14024, which targets members of the Russian government, technology sector, and their families and businesses.
The U.S.’s new Russia export controls could lead to a short-term spike in license applications, but volumes will likely taper off later this year as businesses divest from Russia, said Nazak Nikakhtar, a former senior U.S. export control official.
The U.S. has designated Katibat al Tawhid wal Jihad as a Specially Designated Global Terrorist organization. In a March 7 press release, the State Department announced that all property and interests in property of KTJ that are subject to U.S. jurisdiction are blocked, and U.S. persons are prohibited from engaging in any transactions with the group. Foreign institutions that knowingly conduct or facilitate transactions on behalf of KTJ could also be subject to U.S. sanctions. The Office of Foreign Assets Control also added KTJ to the SDN list.
As global trade restrictions against Russia continue to increase, some companies are grappling with whether to fully exit the Russian market or rely on sanctions screening and temporary carve-outs to keep their operations afloat, lawyers and experts said in interviews this month. But the risks for a majority of businesses are quickly becoming too high, especially as sanctions are expected to grow more punishing.
The Office of Foreign Assets Control announced sanctions on Hezbollah financiers in Ghana. OFAC said in a March 4 press release that it is designating Ali Saade and Ibrahim Taher. All property and interests in property of Saade and Taher, and of any entities that are owned, directly or indirectly 50 percent or more by them that are in the U.S. or in the possession or control of U.S. persons, must be blocked and reported to OFAC.
The State Department released the details of its "sweeping actions" against Russian defense enterprises. The March 3 announcement lists 22 Russian defense-related entities "critical to Russia’s war effort." The blocked entities produce a wide variety of Russian military equipment, from drones, to vehicles, to electronic warfare components. OFAC will add them to the Specially Designated Nationals list. All property and interests in property of the entities in the U.S. or in the possession or control of U.S. persons are blocked. In addition, the announcement contained details about sanctions on Russian elites following an announcement by the White House (see 2203030073). OFAC will add the listed individuals and companies to the SDN list.
The U.S. charged American citizen John "Jack" Hanick with violating U.S. sanctions on Russia related to Russians promoting separatism in Crimea in 2014 via his work for sanctioned Russian oligarch Konstantin Malofeyev, the U.S. Attorney's Office for the Southern District of New York said. Hanick was arrested on Feb. 3 in London and faces a maximum of 20 years in prison for the sanctions charge and five years in prison for a false statements charge. The criminal indictment is the first stemming from the 2014 Russia sanctions regime.