Russia

1966-10-23

Russia

1781321677, Tax ID No.

Today, OFAC designated Russian oligarch Andrei Removich Bokarev (Bokarev), Bokarev’s wife Olga Vladimirovna Syrovatskaya (Syrovatskaya), and major Russian rolling stock manufacturer Transmashholding JSC (Transmash). Bokarev served as President of Transmash and owns or serves on the board of other Russia-based rail-related manufacturing firms. Bokarev is also a board member of the U.S.-designated Russian Association of Employers the Russian Union of Industrialists and Entrepreneurs (RSPP). In addition, Bokarev has personal ties to Russian Defense Minister Sergei Shoigu and other senior Kremlin officials and their families. Bokarev is also linked to organized crime and since 2022 has sought to evade sanctions. Since 2022, Bokarev has worked with assorted Trust and Corporate Service Providers to create shell companies, behavior that can be associated with money laundering. Bokarev has also been sanctioned by Australia, New Zealand, and the United Kingdom (UK). In 2022, Russian officials engaged Transmash to produce parts for infantry combat vehicles. The U.S. Department of State designated Transmash subsidiary Metrovagonmash Joint Stock Company on May 19, 2023 pursuant to Executive Order (E.O.) 14024 and noted its involvement in the production of military equipment, including chassis affixed to Russian surface-to-air radar, weapons systems, and multiple variants of armored tracked vehicles. Bokarev and Transmash were designated pursuant to E.O. 14024 for operating or having operated in the manufacturing sector of the Russian Federation economy. Bokarev was also designated pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the RSPP, a person whose property and interests in property are blocked pursuant to E.O. 14024. Syrovatskaya was designated pursuant to E.O 14024 for being a spouse or adult child of Bokarev. OFAC also designated Bokarev’s business partner and fellow tycoon Iskandar Kakhramonovich Makhmudov (Makhmudov) and Makhmudov’s son Dzhakhangir Iskandarovich Makhmudov (Dzhakhangir). Makhmudov, who founded and owned U.S.-designated Joint Stock Company Ural Mining and Metallurgical Company (UMMC), owns or sits on the board of other Russia-based metals and mining companies, and owns several Russia-based financial services entities. Makhmudov also has links to Russian organized crime. Dzhakhangir is a UMMC official and previously worked for a zinc plant in Russia. Makhmudov has also been sanctioned by New Zealand and the UK.

https://home.treasury.gov/news/press-releases/jy1731

2023-09-14

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