US imposes new sanctions against companies and individuals, targeting Russia’s energy capabilities and sanctions evasion. The sanctions imposed target third-party companies and individuals alleged to assist Russia in procuring equipment needed for military purposes, including suppliers and shippers.
The new measures include sanctions against the Russian energy and mining sectors, and lists more than 200 names around the world facing financial and other restrictions. The purpose of these restrictions is primarily aimed at stopping Russia from sidestepping existing sanctions against its defence industry. It also included measures to clamp down on sanctions evasion in the United Arab Emirates, Turkey and China.
The restrictions have extended to a number of Russian banks, including Russian Standard Bank, Absolut Bank, Bank Home Credit, Post Bank, Russian regional development bank, Russian Regional Bank and Blanc Bank. AFK Sistema PAO, Arctic LNG 2, St. Petersburg Stock Exchange, entities of the Gazprom Neft group and Bauman Moscow State Technical University are under sanctions too.
In total, thirty Russian individuals and almost two hundred companies were hit by restrictions.
Nadmitov, Ivanov & Partners Law Firm advises on Western sanctions and Russian counter-sanctions.
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