Today, OFAC has designated a number of Russian individuals and entities (asset freezes and travel bans imposed) on the basis that they have been involved in a range of “malign activity around the globe”. The designations include:
- 7 Russian oligarchs – Vladimir Bogdanov, Oleg Deripaska, Suleiman Kerimov, Igor Rotenberg, Kirill Shamalov, Andrei Skoch, and Viktor Vekselberg – as well as 12 companies owned or controlled by them;
- 17 Russian government officials; and
- The Russian state-owned weapons trading company Rosoboroneksport, and its Russian subsidiary bank, Russian Financial Corporation Bank (Russia-Syria related designations).
The Russian oligarchs and government officials sanctioned today follow the US Treasury’s CAATSA Section 241 Report, issued in late January 2018 (see previous blog here). That Report identified 114 “senior foreign political figures” and 96 “oligarchs” in the Russian Federation (determined by their “closeness to the Russian regime and their net worth”).
Non-US persons may be liable for knowingly facilitating “significant transactions” for or on behalf of the individuals and entities sanctioned today.
OFAC has also issued 2 general licences to “minimize immediate disruptions to U.S. persons, partners, and allies”, see General Licences 12 and 13, as well as related FAQs. Links to the OFAC Notice and US Treasury press release.