U.S. sanctions on individuals, entities supplying Russia’s military-industrial base

Targets Russian military procurement networks and those who help Russia acquire machine tools, equipment, and key inputs

Supplying Russia’s military-industrial base

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is implementing commitments made by G7 leaders by taking action against third-country actors who materially support Russia’s war.

According to the Treasury release, today’s action targets Russian military procurement networks and those who help Russia acquire machine tools, equipment, and key inputs; and further limits Russia’s use of the international financial system to further its war in Ukraine.

Today’s OFAC release announces the issuance of the following Russia-related general licenses:

  • General License 79 [PDF 188 KB]—Authorizing the wind down of transactions involving certain entities blocked on December 12, 2023
  • General License 80 [PDF 189 KB]—Authorizing certain transactions related to debt or equity of, or derivative contracts involving, Highland Gold Mining Limited

The Department of State is concurrently imposing sanctions on over 100 entities and individuals.

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

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
E: ivaysfeld@kpmg.com

Amie Ahanchian
E: aahanchian@kpmg.com

Christopher Young
E: christopheryoung@kpmg.com

Gisele Belotto
E: gbelotto@kpmg.com

George Zaharatos
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
E: jlibby@kpmg.com
John Anderson
Managing Director
E: johneanderson@kpmg.com
Jenna Leigh Glass
Managing Director
E: jennaleighglass@kpmg.com

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