Treasury Issues New Sanctions Against Individuals and Entities Related to Russia and Ukraine
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated dozens of individuals and entities for sanctions under four executive orders related to Russia and Ukraine.
In this latest action, OFAC named 34 individuals and entities under Ukraine-related sanctions authorities. This includes 14 individuals and entities linked to those that have engaged in serious and sustained evasion of existing sanctions or are 50 percent or more owned by a designated entity; six separatists designated for threatening the security or stability of Ukraine; two former Ukrainian government officials for being complicit in the misappropriation of public assets and/or threatening the security or stability of Ukraine; and 12 entities for operating in the Crimea region of Ukraine.
The action is part of OFAC’s continued effort to counter attempts to circumvent sanctions, to further align U.S. measures with those of its allies, and to provide additional information to assist the private sector with sanctions compliance.
“It is critical that Russia takes the steps necessary to comply with its obligations under the Minsk Agreements and to ensure a peaceful settlement of the conflict in Ukraine,” said John E. Smith, acting director of OFAC. “By more closely matching our designations with those of our international partners and thwarting attempts to evade sanctions¸ we are once again demonstrating the United States’ unwavering resolve to pressure Russia to respect the security and sovereignty of Ukraine.”
OFAC’s steps reflect the U.S. commitment to seek a diplomatic resolution to the crisis in Ukraine by maintaining sanctions on Russia, according to Smith. Those sanctions will not be rolled back until Russia implements its commitments under the Minsk Agreements, including the return to Ukraine of control of its side of the international border with Russia.
“These steps also demonstrate our sustained commitment to a policy of non-recognition with respect to Russia’s purported annexation of Crimea,” said Smith, “and our intent to maintain Crimea-related sanctions until Russia ends its occupation of the peninsula. A number of the individuals and entities designated have also been previously designated by the European Union, underscoring continued trans-Atlantic unity in responding to Russia’s actions in Ukraine.”
U.S. sanctions against individuals and entities relating to the Russia-Ukraine dispute generally blocks any of assets of designated parties in or coming under U.S. jurisdiction and prohibits U.S. persons from dealing with those individuals and entities.