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The United States expands sanctions: now not only Russian but also foreign companies are on the “blacklist”

Date: May 23, 2024 Time: 09:35:48

The United States has prepared a new “black list” for those who cooperate with Russia.

Photo: Shutterstock

Not even a year has passed since the Moskvich plant resumed car production and it has already received such recognition: the company was subject to American sanctions. The veteran Avtovaz, as well as the company Rosavtodor, NPO Saturn and Siberian Coal Company, in total about 120 organizations, were also on the “black list” published on September 14. Moreover, in addition to Russians, there are many foreigners on the list: the Central African Republic, the United Arab Emirates, Slovenia, Finland and Belgium. In addition, personal sanctions were imposed on several dozen citizens, including foreigners. Also sanctioned were those on the Forbes billionaires list: Transmashholding president Andrei Bokarev, UMMC director Iskandar Makhmudov, and Russian Copper Company founder Igor Altushkin.

In the United States, the Office of Foreign Assets Control (OFAC), a special unit under the Office of Foreign Assets Control (OFAC), publishes the “black list” (the so-called SDN List), which lists organizations and citizens with who U.S. citizens are prohibited from doing business. Treasury Department. According to the Americans, the listed Russian companies are linked to the Russian military-industrial complex and military supply chains, and the individuals support the Russian government and allegedly benefit from the ongoing hostilities in Ukraine. As for foreign companies, they were punished by the United States for participating in the export of prohibited products to Russia, including dual-use products.

“Of course, first of all, this is a signal to all foreign citizens and companies that help Russia,” says economist Denis Raksha. “Americans have been doing this work for a long time, visiting these countries, talking to local politicians and officials, asking them to monitor the implementation of the restrictions imposed by the sanctions packages. But the exhortations were not very successful, so other work was carried out in parallel: information was collected on companies participating in parallel import programs. But it must be said that if we talk about foreign companies and citizens, then there are no random names. They all knew what they were doing, wanting to make a lot of money, they took a conscious risk. But in reality, of course, this is a drop in the ocean. There are many more such companies and others will replace those on which the United States has now imposed restrictions. Or perhaps parallel chains were immediately built as a safety net. Therefore, even if Russia has difficulties updating the list, they will be temporary. With these methods it is impossible to stop the importation of sanctioned products into our country.

As for Russian companies, the imposed restrictions, of course, can affect their work, says Denis Raksha. But in each specific case everything will be very individual. Some may have difficulty purchasing equipment, others may have difficulty with foreign buyers. Companies are very different, so the consequences will be different.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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