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 |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal 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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