Reported by U.S. Department of the Treasury

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is further curbing Russia’s access to the international financial system through facilitators and their businesses. The United States, in coordination with the United Kingdom, is targeting the facilitation network of Alisher Usmanov, who is subject to sanctions in multiple jurisdictions. Today’s action also includes designations to reinforce existing measures and further disrupt Russia’s importation of critical technologies used in its war against Ukraine. In total, OFAC is designating 25 individuals and 29 entities with touchpoints in 20 jurisdictions. The U.S. Department of State is concurrently designating several entities operating in the defense sector of the Russian Federation economy and entities supporting Russia’s war against Ukraine, as well as additional entities associated with Russia’s State Atomic Energy Corporation (Rosatom). For more information on these State actions, see this Fact Sheet. Additionally, the U.S. Department of Commerce will take concurrent action to add 28 entities to its Entity List.

“As the Kremlin seeks ways around the expansive multilateral sanctions and export controls imposed on Russia for its war against Ukraine, the United States and our allies and partners will continue to disrupt evasion schemes that support Putin on the battlefield,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Today’s action underscores our dedication to implementing the G7 commitment to impose severe costs on third-country actors who support Russia’s war.”

TARGETING USMANOV FACILITATORS

Alisher Burhanovich Usmanov (Usmanov), designated on March 3, 2022 pursuant to E.O. 14024, is one of Russia’s wealthiest billionaires, with vast holdings across multiple sectors of the Russian Federation economy as well as internationally. Usmanov holds significant interests in the metals and mining, telecommunications, and information technology sectors. Usmanov is known to be close to multiple U.S.-designated, senior Russian officials, including Russian President Vladimir Putin as well as Dmitry Medvedev, current Deputy Chairman of the Security Council of Russia and former President and Prime Minister of Russia. Medvedev has reportedly benefited from the personal use of luxurious residences controlled by Usmanov. Usmanov has at his disposal a wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling him to potentially circumvent sanctions. Usmanov has also been sanctioned by Australia, Canada, the European Union (EU), Japan, New Zealand, Switzerland, and the United Kingdom (UK).

Read full report: https://home.treasury.gov/news/press-releases/jy1402