US introduces additional sanctions against the Russian Federation targeting financial facilitators and Russia's State Atomic Energy Corporation

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced a new set of sanctions related to Russia's full-scale aggression against Ukraine, adding 80 entities and individuals across the world to OFAC's list of Specially Designated Nationals.

Source: European Pravda, citing US Department of the Treasury

Details: The United States, in coordination with the United Kingdom, is targeting the USM Holdings associated with Alisher Usmanov, a Russian oligarch and one of the wealthiest people in Russia. Sanctions against Usmanov were first introduced in March 2022.

"Usmanov has at his disposal a wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling him to potentially circumvent sanctions," the US Treasury Department wrote.

The Treasury Department believes that USM Holdings allows Usmanov to own and control a number of firms linked to it. The new sanctions cover over 20 legal entities related to USM Holdings based in Russia, Uzbekistan, Switzerland and the United Arab Emirates.

In a separate decision, OFAC authorised certain transactions involving Kommersant, Megafon, and Metalloinvest.

The US Department of State has also added 27 individuals and legal entities operating in the defence sector of the Russian economy and entities supporting Russia's war against Ukraine, as well as additional companies associated with Russia's State Atomic Energy Corporation (Rosatom), to the sanctions list.

These sanctions target Rosatom-related entities, including the Kovrov Mechanical Plant, Rusatom Overseas (responsible for Rosatom's foreign projects), and Atomstroy (organisation responsible for Rosatom's resource management).

It is noted that the US Department of Commerce plans to take concurrent action in relation to Rosatom. 

The sanctions include freezing the assets belonging to these legal entities in the United States and banning American citizens and companies from transacting with them.

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