U.S. Treasury slaps new sanctions of companies enabling Putin’s war in Ukraine

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is continuing to impose severe costs on the Russian Federation for its unprovoked and unjustified war against Ukraine by targeting operators in the Russian technology sector to prevent it from evading unprecedented multilateral sanctions and procure critical western technology. OFAC is designating 21 entities and 13 individuals as part of its crackdown on the Kremlin’s sanctions evasion networks and technology companies, which are instrumental to the Russian Federation’s war machine. Treasury has also determined that three new sectors of the Russian Federation economy are subject to sanctions pursuant to Executive Order 14024 (E.O. 14024). This allows Treasury impose sanctions on any individual or entity determined to operate or have operated in any of those sectors. Today’s sanctions are a part of the Administration’s comprehensive response to Russia’s to restrict their access to resources, sectors of their economy that are essential to supplying and financing the continued invasion of Ukraine.

“Russia not only continues to violate the sovereignty of Ukraine with its unprovoked aggression but also has escalated its attacks striking civilians and population centers,” said Secretary of the Treasury Janet L. Yellen. “We will continue to target Putin’s war machine with sanctions from every angle, until this senseless war of choice is over.”

One of the technology companies designated today exports more than 50 percent of Russian microelectronics and is Russia’s largest chipmaker. This follows OFAC’s March 24 designation of dozens of companies in Russia’s defense-industrial base that are directly supporting Putin’s unjustified war against the people of Ukraine. Treasury took today’s action in close coordination with our partners who are similarly committed to ensuring the Russian Federation is not exploiting their jurisdictions for its destructive aims.

Additionally, today OFAC is designating Russian government malicious cyber actors. The United States will continue to hold Putin’s cyber actors accountable for destructive, disruptive or otherwise destabilizing cyber activity targeting the United States and its allies and partners.

Today’s actions demonstrate the U.S. government’s commitment to countering the evasion of sanctions that the United States and our allies and partners have put in place to impose unprecedented costs on the Russian Federation for its aggression against Ukraine. The Treasury Department will use all authorities at its disposal to enforce sanctions against the Russian government and its proxies.