More Russian Property Blocked: Business as Usual for Sanctions
Published Date: 2/21/2025
Notice
Summary
The U.S. Department of State has blocked the property and financial interests of certain people linked to harmful actions by the Russian government. These individuals are now on a special sanctions list, meaning Americans can’t do business with them. This update took effect on January 15, 2025, and aims to stop bad behavior by freezing assets under U.S. control.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Designated persons' U.S. assets frozen
The Department of State published names of persons placed on the Treasury Department's Specially Designated Nationals (SDN) List, and all property and interests in property subject to U.S. jurisdiction of those persons are blocked. The blocking took effect on January 15, 2025 and applies to property under U.S. control.
Designations target aerospace-sector actors
The notice indicates at least some designations were made pursuant to Section 1(a)(i) of Executive Order 14024 for operating or having operated in the aerospace sector of the Russian Federation economy. Entities or persons identified under that criterion are now on the SDN List as of January 15, 2025.
U.S. persons barred from transacting with listed people
The notice states that U.S. persons are generally prohibited from engaging in transactions with the named individuals on the SDN List. The prohibition is tied to the January 15, 2025 designations and is administered by the Office of Foreign Assets Control (OFAC).
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Key Dates
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Previous / Next Documents
Previous: 2025-02899, Notice of Department of State Sanctions Actions Pursuant to the Executive Order Regarding Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation
The U.S. Department of State has added certain people linked to harmful actions by the Russian government to a special sanctions list. This means their property in the U.S. is frozen, and Americans can't do business with them. These changes took effect on August 23, 2024, tightening financial restrictions to hold them accountable.
Next: 2025-02901, Notice of Department of State Sanctions Actions Pursuant to the Executive Order Regarding Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation
The U.S. Department of State has officially blocked the property and financial interests of certain people linked to harmful actions by the Russian government. These individuals are now on a special sanctions list, meaning Americans can’t do business with them. This update took effect on February 23, 2024, and aims to stop bad behavior by freezing assets under U.S. control.