Businesses such as Sernia Engineering, Sertal and JSC Research Institute Vector fell under the sanctions. According to Washington, most of the people on the list are associated with Sernia Engineering and the Central Research Institute of Chemistry and Mechanics (TsNIIKhM). Restrictions on TsNIIKhM have been in effect since 2020. Russia’s largest microelectronics manufacturer Mikron and supercomputer developer T-Platforms have also been imposed new sanctions.
It is stated that Mikron, “one of the technology companies designated” in the new sanctions list, exports more than 50% of Russian microelectronic products and is the largest microcircuit manufacturer in Russia today.
In addition, the US Treasury Department authorized the imposition of sanctions on the aviation, shipping and electronics sectors of the Russian economy.
“The Ministry of Finance is increasing and expanding its powers in the area of imposing sanctions against Russia. Today, the Minister of Finance (Janet Yellen – socialbites.ca), after consultations with the Minister of Foreign Affairs (Anthony Blinken – socialbites.ca), decided that the sanctions apply to the aviation, shipping and electronics sectors of the US economy. Russian Federation. .
The new definition allows sanctioning “any natural or legal person who works or has worked in any of these industries”. The ministry added that so far, the enforcement powers have covered financial services, technology and defense industries.
It is emphasized that the new restrictions were adopted by the US “in close coordination with partners”.
“Today’s actions demonstrate the determination of the US government to counter the evasion of sanctions imposed by the US and our allies and partners to impose unprecedented costs on the Russian Federation for its aggression against Ukraine. The Ministry of Finance will use all the powers at its disposal to impose sanctions against the Russian government and its proxies.
The Treasury Department concluded that all property in the United States of persons covered by the new sanctions should be blocked.
easing of sanctions
At the same time, the US Treasury Department announced the removal of the Russian OZON Bank LLC from the sanctions list.
The document states, “The following exceptions have been made from the list… Office of Foreign Assets Control (US Department of the Treasury – OFAC): OZON Bank Limited Company”.
The Ministry reminded that OZON Bank was sanctioned on February 24 for its connection with Sovcombank. It was named a subordinate structure of Sovcombank, which was later included in the sanctions list. However, as RBC noted, Sovcombank does not currently own Ozon Bank.
The first name of Ozone Bank was Öney Bank. Auchan was established in 2013 to provide banking services to the customers of Leroy Merlin and Decathlon retail chains.
At the end of 2020, Auchan decided to leave its own bank and return to the model of cooperation with large financial institutions, after which the bank acquired Sovcombank. In the spring of 2021, Öney Bank bought Ozon.
According to an RBC source, although the parties have announced the completion of the transaction, the United States may consider Ozon Bank as part of Sovcombank because it is included in previous reports.
It was previously reported that the USA. softened Anti-Russian sanctions to prevent shortage of mineral fertilizers. They were included in the list of vital products, along with agricultural products, drugs and medicinal products. In addition, food products (excluding seafood and alcohol), vitamins and minerals, nutritional supplements and vitamins, bottled water, and live animals and feed were exempted from restrictions in the United States.
Now it is possible to carry out any business transaction with them, including re-export. At the same time, transactions with the listed goods are prohibited if the Bank of Russia, the National Wealth Fund, the Ministry of Finance of Russia or any sanctioned bank are involved in any processing of transactions.