OFAC FAQ (Current) # 1074 - Russian Harmful Foreign Activities Sanctions

Date issued: Aug. 02 2022

Last substantive commentary amendment:
Aug. 13 2023

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TURBOFAC Commentary (256 words)

Notes:

1) This FAQ is one of several FAQs published by OFAC assuring the regulated public that one or more entities in which sanctioned individuals have or have had a significant ownership stake are not blocked—pursuant to the 50% Rule or otherwise–as a result of such individuals being pursuant to the RuHSR. As of 8-13-23 these are FAQ # 1073, FAQ # 1074, FAQ # 1075, FAQ # 1104, FAQ # 1129 and FAQ # 1131).

The apparent reason for the issuance of this FAQ stems from the fact that EuroChem Group AG was, as of the date of the blocking of Andrey Igorevich Melnichenko, "majority-owned and controlled by EU trustees of a trust, whose beneficiary, Aleksandra Melnichenko, has no majority ownership of, nor influence over, EuroChem." Aleksandra Melnichenko is...