OFAC Cracks Down on Sanctions Evasions Networks, Targets New Sectors

As the Office of Foreign Assets Control works to crack down on sanctions evasions networks and technology companies associated with the Kremlin, it announced today that it is designating an additional 21 entities and 13 individuals. It also expanded sanctions authorities to include the Russian aerospace, marine and electronics sector.

To help bankers track the latest developments on the Russian invasion of Ukraine and related sanctions, the American Bankers Association will host a free webinar April 4 at 2 p.m. EDT for ABA bank members and state association staff. The webinar will feature ABA President and CEO Rob Nichols and K2 Integrity’s Juan Zarate and Danny Glaser. Attendees will hear the latest updates on Ukraine, the financial costs being imposed on Russia beyond sanctions, and the challenges U.S. banks should prepare for next.

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