Following Russian President Vladimir Putin’s announcement that he would illegally annex four Ukrainian territories, the Treasury Department’s Office of Foreign Assets Control designated 14 individuals in Russia’s military industrial complex, as well as 278 members of the Russian legislature for supporting the annexation.
The Treasury Department’s Office of Foreign Assets Control today announced additional sanctions against Russia as a result of the ongoing conflict in Ukraine
A dedicated international task force focused on executing sanctions against Russia has blocked or frozen more than $30 billion worth of sanctioned Russian assets in financial accounts and economic resources, and immobilized approximately $300 billion worth of Russian Central Bank Assets, according to a press release issued by the Treasury Department.
Russia’s efforts to disengage with the global economy and isolate itself may have helped minimize the initial shock from the most recent sanctions and could explain why Putin has yet to back down from the Ukraine invasion.
Financial institutions will benefit by embracing innovation and being proactive during breaking developments.
The Treasury Department’s Office of Foreign Assets Control sanctioned Transkapitalbank, a Russian commercial bank, and its subsidiary, Joint Stock Company Investtradebank for sanctions evasion activity connected to the recent Russian invasion of Ukraine.
With the Russian invasion of Ukraine still ongoing, the Treasury Department’s Office of Foreign Assets Control today announced additional significant steps to sanction Russian individuals and entities.
The Treasury Department’s Office of Foreign Assets Control today announced sanctions against Hydra Market, the world’s largest and most prominent darknet market, for being responsible or complicit in cyber-enabled activities against the United States.
Acting Comptroller of the Currency Michael Hsu today told attendees at ABA Risk 2022 that Russia’s invasion of Ukraine could trigger a recession.
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.