US imposes new sanctions on Russia
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) taked further action to degrade the key networks used by Russia’s elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe.
The action targets a Kremlin-aligned yacht brokerage, several prominent Russian government officials, and a close Putin associate and money-manager, Sergei Roldugin, who is a custodian of President Putin’s offshore wealth. In order to further tighten and enforce existing sanctions, this action further identifies yachts and aircraft in which sanctioned Russian elites maintain interests.
The U.S. Commerce Department, through its Bureau of Industry and Security (BIS), issued a final rule adding seventy-one entities located in Russia and Belarus to the Entity List, further restricting the Russian military’s ability to obtain technologies and other items it needs to sustain aggression and project power.
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