The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday reinforced existing sanctions on Russia by designating or identifying a range of individuals and entities related to Russia’s ongoing aggression against Ukraine and occupation of Crimea. The action was designed to counter attempts to circumvent our sanctions, and to maintain alignment of U.S. measures with those of our international partners. U.S. sanctions on Russia related to the situation in eastern Ukraine will remain in place until Russia fully honors its obligations under the Minsk Agreements. Our sanctions related to Crimea will not be lifted until Russia ends its occupation of the peninsula.
- OFAC designated 38 individuals and entities under Ukraine-related authorities, including one entity that has engaged in the evasion of existing sanctions, two Russian government officials and two individuals acting for or on behalf of a government official, two entities that are owned or controlled by an individual previously designated, and 11 individuals and entities that operate in the Crimea region of Ukraine.
- OFAC also identified 20 subsidiaries that are owned 50 percent or more by the previously-designated Transneft, subject to Directive 2 under E.O. 13662, which prohibits U.S. persons from dealing in new debt of greater than 90 days maturity of the sanctioned entities.
- From the beginning of the crisis, the United States and the EU have stood united in defense of Ukraine’s sovereignty and territorial integrity. We remain prepared to lift our sanctions related to eastern Ukraine if Russia fully implements its Minsk commitments.