Minbo PENG

China

1982-10-01

Furong District, Changsha, Hunan Province, China

Female

Unit 1507B, 15/F., Eastcore, 398 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong, China; No. 111 Changtang Group, Guandao Village, Tiaoma Town, Lianghua District, Changsha, Hunan, China

430102198210015564, Identification Number; EH4256001, Passport

Other

PRC nationals Lin Qing (a.k.a. Becky Lin) and Peng Minbo (a.k.a. Betty Peng) are executives of U.S.-designated Sinno Electronics Co., Limited (Sinno Electronics), a Hong Kong-registered company that operates from several addresses in Hong Kong and Mainland China. Sinno Electronics is a longtime supplier of microelectronics to Russian defense procurement companies. Peng Minbo has been involved in the Russian electronics market for many years as a Sinno Electronics executive. Since the beginning of the full-scale invasion of Ukraine, Peng Minbo has personally made thousands of foreign-origin microelectronic shipments to Russia, including items critical to the production of advanced Russian-precision guided weapons. Peng Minbo has also collaborated directly with multiple U.S.-designated entities in Russia to deliver electronic components utilized in advanced Russian weapons systems. Peng Minbo and a U.S.-designated Russia entity engaged in a complex scheme involving numerous intermediary companies across multiple countries. Peng Minbo is being designated pursuant to E.O. 14024 for operating or having operated in the electronics sector of the Russian Federation economy.

US

https://home.treasury.gov/news/press-releases/jy2700

2024-10-30

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