U.S. OFAC updates SDN list (Russia-related designations)
Russian network that procured military and sensitive dual-use technologies from U.S. manufacturers and supplied them to Russian end-users
OFAC designated a Russian network that procured military and sensitive dual-use technologi
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today designated a Russian network that procured military and sensitive dual-use technologies from U.S. manufacturers and supplied them to Russian end-users. Read the update to the specially designated nationals list (SDN list).
A related Treasury release explains that:
- All property and interests in property of these persons located in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
- Any entities that are owned, directly or indirectly, 50% or more in the aggregate by one or more of such persons are also blocked.
- All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons are prohibited, unless authorized by a general or specific license issued by OFAC, or otherwise exempt.
- The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
For more information on sanctions and other responses to Russia’s war on Ukraine, visit KPMG’s dedicated website.
Contact a professional with KPMG’s Trade & Customs services:
John L. McLoughlin
Luis (Lou) Abad
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