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Akrivis Law Group, PLLC Secures Removal of Russian Ex-Banker Mikhail Zadornov from OFAC SDN List
WASHINGTON, D.C. – April 7, 2026 – Akrivis Law Group, PLLC is pleased to announce that on April 3, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) officially removed Mikhail Zadornov from the Specially Designated Nationals and Blocked Persons (SDN) List.
Mr. Zadornov, a prominent Russian ex-banker who served as the President of Bank Otkritie Financial Corporation and prior to that, Finance Minister under President Boris Yeltsin, had been designated by OFAC in 2022 under Executive Order 14024. This authority has been used extensively to target individuals and entities following the Russian invasion of Ukraine in February 2022. Among the categories of entities blocked by OFAC and the U.S. Department of State under this authority are those operating in the financial services sector of the Russian Federation economy.
Individuals designated onto the SDN List are prohibited from virtually all dealings with the United States and with U.S. persons, with their assets under U.S. jurisdiction being subject to blocking. While these limitations are legally limited to the United States and U.S. economy, such designations invariably lead to a cascading effect whereby the individual is effectively blocked from transactions around the world - such individuals are often denied banking services by even foreign, non-U.S. banks, even if local laws do not prohibit such activities.
Following an intensive legal and administrative process, the Akrivis team successfully demonstrated that the circumstances for Mr. Zadornov’s inclusion on the list were no longer applicable, leading to his formal delisting. This successful delisting is one of several high-profile removals Akrivis Law Group has secured in recent years, reinforcing its position as a leading firm in the field of U.S. sanctions and export control laws.
The legal team representing Mr. Zadornov was led by Akrivis Law Group Managing Partner Farhad Alavi and Partner Sam Amir Toossi.
About Akrivis Law Group, PLLC
Akrivis Law Group, PLLC is a boutique law firm with offices in Washington, D.C., New York, and Miami, focusing on international trade compliance and defense, and white-collar investigations and defense, and dispute resolution. The firm represents a diverse range of domestic and foreign clients, from U.S. and foreign public corporations to high-net-worth individuals
For more information, please visit www.akrivislaw.com or contact Farhad Alavi at falavi@akrivislaw.com or Sam Amir Toossi at atoossi@akrivislaw.com.
