Standard Russian Sanctions: Property Blocked, Business Banned
Published Date: 2/21/2025
Notice
Summary
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 June 12, 2024, and aims to stop bad behavior by freezing assets under U.S. control.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
U.S. persons barred from dealing
On June 12, 2024, certain people were added to the Treasury Department’s Specially Designated Nationals and Blocked Persons (SDN) List. All property and interests in property of those persons that are subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Names published on OFAC SDN list
The Department of State published the names of persons placed on OFAC’s Specially Designated Nationals and Blocked Persons (SDN) List, and the SDN List and related sanctions information are available on OFAC’s website at https://ofac.treasury.gov/sanctions-programs-and-country-information/russian-harmful-foreign-activities-sanctions. The notice states these listings were determined on June 12, 2024.
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