U.S. Treasury Takes Sweeping Action Against Russia’s War Efforts
05/08/2022
U.S. Department of the Treasury
Office of Public Affairs
Press Release: FOR IMMEDIATE RELEASE
May 8, 2022
Contact: Treasury Public Affairs; Press@Treasury.gov
U.S. Treasury Takes Sweeping Action Against Russia’s War Efforts
Designations Include Financial Executives, Weapons Manufacturer, and State-Controlled Television Stations
New Prohibitions Ban Services Critical to Russia’s Wartime Effort
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated individuals and entities critical to Russia’s ability to wage war against Ukraine. These include the board members of two of Russia’s most important banks, a Russian state-owned bank and 10 of its subsidiaries, a state-supported weapons manufacturer, and three of Russia’s state-controlled television stations that generate revenue for the state.
OFAC is also taking action to cut off access to services that are used by the Russian Federation and Russian elites to evade sanctions. Today, OFAC identified accounting, trust and corporate formation, and management consulting as categories of services that are subject to a prohibition on the export, reexport, sale, or supply, directly or indirectly, from the United States, or by a U.S. person, wherever located, to any person located in the Russian Federation, pursuant to Executive Order (E.O.) 14071.
