WASHINGTON – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on June 20 reinforced existing sanctions on Russia by designating or identifying a range of individuals and entities involved in the ongoing conflict under four executive orders (E.O.s) related to Russia and Ukraine.
“Today’s action is designed to counter attempts to circumvent U.S. sanctions and will maintain alignment of U.S. measures with those of our international partners. It will also provide additional information to assist the private sector with sanctions compliance. These steps are consistent with the U.S. commitment to seek a diplomatic resolution to the crisis in Ukraine and to facilitate Crimea’s return to Ukraine. U.S. sanctions on Russia related to the situation in eastern Ukraine will remain in place until Russia fully honors its obligations under the Minsk Agreements. U.S. sanctions related to Crimea will not be lifted until Russia ends its occupation of the peninsula,” the department noted in its news release.
“These designations will maintain pressure on Russia to work toward a diplomatic solution,” said Treasury Secretary Steven T. Mnuchin. “This administration is committed to a diplomatic process that guarantees Ukrainian sovereignty, and there should be no sanctions relief until Russia meets its obligations under the Minsk agreements.”
The OFAC designated 38 individuals and entities under Ukraine-related authorities, including one entity that has engaged in the evasion of existing sanctions, two Russian government officials and two individuals acting for or on behalf of a government official, two entities that are owned or controlled by an individual previously designated, and 11 individuals and entities that operate in the Crimea region of Ukraine.
As a result of the action, any property or interest in property of the designated persons in the possession or control of U.S. persons or within the United States must be blocked. Additionally, transactions by U.S. persons involving these persons are generally prohibited.
OFAC also identified 20 subsidiaries that are owned 50 percent or more by the previously-designated AK Transneft OAO (Transneft), subject to Directive 2 under E.O. 13662, which prohibits U.S. persons from dealing in new debt of greater than 90 days maturity of the sanctioned entities.
The Treasury Department also noted: “Today’s action targets 21 Ukrainian separatists, entities and their supporters pursuant to E.O. 13660 for being responsible for or complicit in, or having engaged in, actions or policies that threaten the peace, security, stability, sovereignty or territorial integrity of Ukraine; for acting for or on behalf of, being owned or controlled by, or providing material or other support to previously designated groups; or for asserting governmental authority over a part or region of Ukraine without the authorization of the government of Ukraine. This action is part of an ongoing effort to hold those responsible for violations of Ukraine’s sovereignty and territorial integrity accountable for their actions.”
To read the entire release, go to https://www.treasury.gov/press-center/press-releases/Pages/sm0114.aspx.