Russia

1974-12-21

Russia

Today OFAC designated the Federation Council of the Federal Assembly of the Russian Federation (Federation Council) pursuant to E.O. 14024 for being a political subdivision, agency, or instrumentality of the GoR. Russia’s Federation Council voted unanimously in February 2022 to approve Putin’s request to send troops into Ukraine, which provided an unjustified pretext for Russia’s full-scale invasion of Ukraine. The Federation Council members also approved a Russian law threatening prison time for those publishing what the Russian authorities consider to be false information about the country’s further invasion of Ukraine, which the Kremlin refers to as a “special military operation.” While Ukraine and its Western allies have condemned the referenda in the Russian-controlled eastern and southern regions as illegitimate, the Chairwoman of the Federation Council, Valentina Matviyenko, claimed in late September that they comply with international norms and the U.N. Charter. On February 25, 2022, OFAC designated Matviyenko. Today, OFAC is designating all of Matviyenko’s 169 Federation Council colleagues pursuant to E.O. 14024 for being or having been leaders, officials, senior executive officers, or members of the board of directors of the GoR.

https://home.treasury.gov/news/press-releases/jy0981

2022-09-30

US

Executive Order 14024 of April 15, 2021 Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation

OFAC country specific

Russia

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/1127 • https://ofac.treasury.gov/faqs/1029

In response to the Russian Federation’s continued use of its military-industrial base to support its aggression against Ukraine, the President has issued an Executive Order (E.O.) amending E.O. 14024 that provides the Office of Foreign Assets Control (OFAC) with new authorities to target foreign financial institutions for engaging in certain transactions. Foreign financial institutions that conduct or facilitate significant transactions or provide any service involving Russia’s military-industrial base run the risk of being sanctioned by OFAC. The United States and partners have put in place a sanctions and export controls regime that has severely restricted Russia’s ability to import many of the items that directly support its brutal and unjustified war against Ukraine. As a result, Russia is increasingly using third countries to evade sanctions and continue its procurement of certain critical items. The United States and partners have published multiple advisories, including detailed red flags, to warn the private sector about Russian sanctions evasion in support of its war machine and to support compliance efforts. OFAC’s new targeting authorities, which are aimed at foreign financial institutions that provide services to, or engage in significant transactions relating to, Russia’s military-industrial base, come as a natural evolution of OFAC’s work to counter evasion and hold accountable those perpetuating Russia’s war against Ukraine, including financial facilitators. OFAC is issuing this advisory to provide guidance to foreign financial institutions on the amendments to E.O. 14024, including practical guidance on how to identify sanctions risks and implement corresponding controls. For additional guidance on this E.O., please see FAQs 1146–1157.

SDN / NS-MBS / CAPTA