Hungary; Russia

Vaci ut, 188, Budapest, H-1138, Hungary; Fo utca 1, Budapest, H-1011, Hungary; 7 Mashi Poryvaevoy Street, Moscow, 107078, Russia

30479900-1-51, Tax ID No.; 9909152110, Tax ID No.; 2534000PHLD27VN98Y03, Legal Entity Number

Today OFAC designated the International Investment Bank (IIB), a Russia-controlled financial institution in Budapest, Hungary. The IIB’s presence in Budapest enables Russia to increase its intelligence presence in Europe, opens the door for the Kremlin’s malign influence activities in Central Europe and the Western Balkans, and could serve as a mechanism for corruption and illicit finance, including sanctions violations. The Government of Russia is prepared to dedicate additional resources, including Government of Russia guarantees and subsidies, to save the bank from a looming default. Following Russia’s invasion of Ukraine in February 2022, Bulgaria, Czechia, Romania, and Slovakia ended their participation in the IIB. OFAC also designated Moscow-based Joint Stock Company IIB Capital (IIB Capital), the IIB’s fully owned subsidiary in Russia, and three current or former executives of the IIB: Russian Federation nationals Nikolay Nikolayevich Kosov (Kosov) and Georgy Nugzarovich Potapov (Potapov) and Hungary national Imre Laszloczki (Laszloczki). IIB executives have coordinated with Russian Federation officials on IIB business even after Russia’s further invasion of Ukraine in February 2022. Kosov is the former chairman of the IIB, while Potapov and Laszloczki are both high-ranking officials on the IIB’s management board. The IIB and Kosov were both designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy and for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the Government of the Russian Federation. Potapov and Laszloczki were designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy. IIB Capital was designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the IIB.

https://home.treasury.gov/news/press-releases/jy1402

2023-04-12

US

Executive Order 13662 of March 20, 2014 Blocking Property of Additional Persons Contributing to the Situation in Ukraine

OFAC country specific

Russia

Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1576

E.O. 13662. On March 20, 2014, the President, invoking the authority of, inter alia, IEEPA, issued E.O. 13662. In E.O. 13662, the President expanded the scope of the national emergency declared in E.O. 13660 and expanded by E.O. 13661, finding that the actions and policies of the Government of the Russian Federation, including its purported annexation of Crimea and its use of force in Ukraine, continue to undermine democratic processes and institutions in Ukraine; threaten its peace, security, stability, sovereignty, and territorial integrity; and contribute to the misappropriation of its assets, and thereby constitute an unusual and extraordinary threat to the national security and foreign policy of the United States. Section 1(a) of E.O. 13662 blocks, with certain exceptions, all property and interests in property that are in the United States, that come within the United States, or that are or come within the possession or control of any United States person, of any person determined by the Secretary of the Treasury, in consultation with the Secretary of State to, among other things, operate in such sectors of the Russian Federation economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State, such as financial services, energy, metals and mining, engineering, and defense and related materiel.

SSI / SDN