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U.S. designates scores of entities globally in effort to thwart Russian sanctions evasion
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced scores of designations onto its List of Specially Designated Nationals and Blocked Persons (the “SDN List”). These 25 individuals and 29 entities collectively had a nexus to 20 jurisdictions. This move was mamde in conjunction with the U.S. Department of State, which has sanctioned certain parties today, as well as the U.S. Department of Commerce’s Bureau of Industry & Security (BIS) which added 28 entities to its Entity List. While such widescale designations in one instance, wherein an agency such as OFAC or the BIS may target an entire group of related parties (companies and individuals), are increasingly common, the types of entities targeted today are particularly noteworthy, as is the interagency (and multilateral) effort the action represents.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced scores of designations onto its List of Specially Designated Nationals and Blocked Persons (the “SDN List”). These 25 individuals and 29 entities collectively had a nexus to 20 jurisdictions. This move was mamde in conjunction with the U.S. Department of State, which has sanctioned certain parties today, as well as the U.S. Department of Commerce’s Bureau of Industry & Security (BIS) which added 28 entities to its Entity List. While such widescale designations in one instance, wherein an agency such as OFAC or the BIS may target an entire group of related parties (companies and individuals), are increasingly common, the types of entities targeted today are particularly noteworthy, as is the interagency (and multilateral) effort the action represents.
