More Russians Frozen: State Hits Vessels Over Bad Behavior
Published Date: 2/21/2025
Notice
Summary
The U.S. Department of State has added certain Russian individuals and vessels to a special sanctions list, blocking their property and stopping Americans from doing business with them. These actions target harmful activities by the Russian government and took effect starting December 18, 2024. This means any U.S.-based assets linked to these people or ships are frozen, and financial dealings with them are off-limits.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
U.S. persons barred from dealing with named Russian targets
The Department of State added certain persons to the Treasury Department's Specially Designated Nationals (SDN) List, and on December 18, 2024 their property and interests in property subject to U.S. jurisdiction were blocked. U.S. persons are generally prohibited from engaging in transactions with these designated persons and any U.S.-based assets linked to them are frozen.
Specific Russian vessels added to sanctions list
The notice lists named Russian vessels (for example, AKADEMIK CHERSKIY, IVAN SIDORENKO, FIONA/FORTUNA, and others) as property in which designated persons have an interest, and states these vessels' property is blocked as of December 18, 2024. The entries note a "secondary sanctions risk: See Section 11 of Executive Order 14024," indicating the vessels are identified as sanctioned property and U.S. persons should not engage in transactions involving them.
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