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ARTICLE · 25 SEPTEMBER 2023

Targeting Sanctions Evaders: U.S. Imposes Additional Sanctions On Russian Elites & Industrial Complex

Lewis Brisbois Bisgaard & Smith LLP
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In a move aimed at undermining Russia's workarounds to evade sanctions thus far, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) recently imposed nearly 100 new sanctions...

United StatesInternational Law
Vy Nguyen
Vy Nguyen
Jane Luxton
Jane Luxton
Andrew Pidgirsky
Andrew Pidgirsky
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Washington, D.C. (September 22, 2023) – In a move aimed at undermining Russia's workarounds to evade sanctions thus far, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) recently imposed nearly 100 new sanctions on Russia's industrial base, financial institutions, and technology suppliers. The Department of State has also designated more than 70 individuals.

The sanctions target individuals and entities benefiting from, supporting, and sustaining Russia's war against Ukraine. They focus on Russian elites and firms connected to Russia's defense sector and military-industrial complex. The sanctions include designations of Russian oligarchs, manufacturing companies, and technology supply chain entities.

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