U.S. sanctions target Russian technology companies and aerospace, electronics, and marine sectors

Measures focus on operators in the Russian technology sector

Measures focus on operators in the Russian technology sector

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today imposed additional sanctions on Russia regarding the war in Ukraine. The measures focus on operators in the Russian technology sector and aim to prevent entities in this sector from evading multilateral sanctions and procuring “western technology.”

As noted in a Treasury release, three sectors— aerospace, electronics, and marine sectors—of the Russian economy are specifically subject to sanctions pursuant to Executive Order 14024, thereby authorizing Treasury to impose sanctions on any individual or entity in any of these sectors.

Read the Treasury determination [PDF 628 KB]

OFAC also added 21 entities and 13 individuals to its list of specially designated nationals (SDN list). Read the OFAC release
 

For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
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E: dzuvich@kpmg.com

John L. McLoughlin
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E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
T: 631-425-6057
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
T: 415-963-7861
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
T: 212-954-3094
E: labad@kpmg.com

Irina Vaysfeld
Principal
T: 212-872-2973
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
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E: aahanchian@kpmg.com

Christopher Young
Principal
T: 312-665-3229
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
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E: gbelotto@kpmg.com

George Zaharatos
Principal
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E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
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E: adoornaert@kpmg.com

Jessica Libby
Principal
T: 612-305-5533
E: jlibby@kpmg.com

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