The Biden administration has recently imposed sanctions on four Russians who serve on the supervisory board of a prominent financial and investment conglomerate based in Moscow. The individuals targeted by the sanctions are Petr Olegovich Aven, Mikhail Maratovich Fridman, German Borisovich Khan, and Alexey Viktorovich Kuzmichev. The Alfa Group Consortium, a major financial investment conglomerate in Russia, counts these individuals among its board members, with Fridman being one of its co-founders.
Additionally, the U.S. Treasury and State Departments have announced additional sanctions against a Russian business organization involved in the country’s tech sector. This organization has reportedly played a role in Russia’s response to previous sanctions imposed on it due to its invasion of Ukraine.
Secretary of State Antony Blinken emphasized the United States’ commitment to holding accountable those who enable and profit from Russia’s aggression against Ukraine. Deputy Treasury Secretary Wally Adeyemo echoed this sentiment, stating that wealthy Russian elites should not assume they can continue their business activities as usual while the Kremlin wages war against the Ukrainian people. Adeyemo affirmed that the international coalition will continue to hold those responsible for the unjustified invasion of Ukraine accountable.
The Treasury Department pointed out that Australia, Canada, the European Union, New Zealand, and the U.K. have already sanctioned the four Russians in question. Consequently, any property or interests in property belonging to these individuals and located in the United States or controlled by U.S. entities are blocked and must be reported to the Office of Foreign Assets Control (OFAC) within the Treasury Department. Moreover, entities that are at least 50% owned, directly or indirectly, by these blocked persons are also subject to sanctions.
It is worth noting that these sanctions underscore the ongoing international effort to counter Russia’s actions in Ukraine. The Treasury Department advises that all transactions involving designated or blocked persons and their properties within the United States or by U.S. persons are prohibited, unless authorized by OFAC.
In conclusion, the Biden administration’s sanctions against these Russian individuals and business entities reflect a determination to hold them accountable for their actions and support Ukraine in the face of Russian aggression.
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