OFAC Updates Russia and Ukraine Sanctions Lists, Issues Advisory on Evasion of Crimea Embargo

5 August 2015
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Key takeaways:

  • On July 30, 2015, the United States updated the Russia and Ukrainian sanctions lists.
  • Several individuals and entities were newly added to the list of Specially Designated Nationals and Blocked Persons.
  • The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) also updated the Sectoral Sanctions Identifications List by adding several subsidiaries of the Russian bank Vnesheconombank (VEB) and the Russian oil company OJSC Rosneft Oil Company, which were already treated as subject to sectoral sanctions under the “50% Rule.”
  • OFAC has issued an advisory to alert U.S. companies about attempts to evade the U.S. trade restrictions on Crimea.