Additional sanctions announced against Russian individuals, entities

The Treasury Department’s Office of Foreign Assets Control today announced additional sanctions against Russia as a result of the ongoing conflict in Ukraine. Together with the State Department, Treasury sanctioned several individuals with ties to the Kremlin, as well as a major multinational company, MMK. Also sanctioned was Joint Stock Company Promising Industrial and Infrastructure Technology, a financial institution that has attempted to facilitate the circumvention of Russian sanctions.

As a result of these sanctions, all property or interests in or held in the U.S. will be blocked and reported to OFAC.