On April 6, 2018, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a number of Russian individuals, including some with close connections to President Putin and previously identified as part of the Treasury Department’s so-called Oligarch’s Report. OFAC also sanctioned several Russian companies. These individuals and companies were added to OFAC’s Specially Designated Nationals (SDN) list under the Ukraine/Russia sanctions program and were undertaken as part of a broader U.S. Government initiative to put more pressure on Russia and the Putin government. According to Treasury Secretary Mnuchin “Russian oligarchs and elites who profit from this corrupt system will no longer be insulated from the consequences of their government’s destabilizing activities.” Along with these designations, OFAC issued two new Ukraine/Russia-related general licenses, eight new FAQs, and one updated FAQ relating to the Countering America’s Adversaries Through Sanctions Act (CAATSA). Click here for more.
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