Second Round of OFAC Sanctions against Russia
25 Feb, 2022
This second wave of OFAC’s sanctions come at various speeds and depths. It targets SBERBANK, Russia’s largest bank, prohibiting correspondent and payable-through account transactions. Yet, it does not issue a full blocking order for Sberbank.
On the opposite end is VTB Bank, Russia’s second largest bank, which sees full blocking sanctions.
As to major newcomers under OFAC’s Directive 3, it features Alfa-Bank, Russia’s largest privately owned bank or State-owned Alrosa, one of World’s biggest Diamond companies.
Under a separate regime, the PEESA (Protecting Europe's Energy Security Act), OFAC does sanction Swiss registered Nord Stream 2 and Matthias Warnig, its CEO.
A range of other sanctions are being rumoured through press and officials’ declarations, however, as of today, we are not aware of other OFAC lead initiatives.
Additional restrictions are published by the Department of Commerce on dual-use and military end users export restrictions.
For the full list and details please ask our analysts at email@example.com.
27 Feb, 2022
Polixis CEO Comments on the Consequences of the Recent Sanctions Against Russia
In his interviews to local press, Polixis Founder and CEO Gagik Sargsyan has commented on the possible consequences of the recent wave of sanctions on Russia. According to him, for every 1 entity in OFAC list, there may be approximatively 10 collateral exposures to primary and secondary sanctions. This will test to the limits the existing Compliance tools in the banking sector.
23 Feb, 2022
OFAC Sanctions Against Russia in Response to Actions in the Donetsk and Luhansk Regions
The gin is out: the first major round of OFAC sanctions is here. Here is what you need to know in a nutshell:
11 Dec, 2020
What to Expect from the New US Turkey-Related Sanctions
On 14 December, the US imposed sanctions on Turkey’s Presidency of Defense Industries (SSB) pursuant to Section 231 of the Countering America’s Adversaries Through Sanctions Act (CAATSA) over purchase of Russian S-400 surface-to-air missile system.