Case ID: UKRAINE-EO13662-16174 - Deripaska Delisting Denial (Evidentiary Memorandum)

Date issued: Mar. 05 2020

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TURBOFAC Commentary (693 words)

Notes:

1) As explained in the introduction portion of the memorandum, SDN Oleg Deripaska (EO 13661 and EO 13662) challenged his designations in court, and then requested that OFAC reconsider his EO 13662 designation. This was done subsequent to the deal between Deripaska, OFAC and other persons that resulted in various Deripaska-owned entities being removed from the SDN list. See OFAC Notification to Congress of its Intention to Terminate the Sanctions Imposed on En+ Group plc, UC Rusal plc, and JSC EuroSibEnergo, and comments thereto (the “Notification”).

2) Interpretation of “Operate in”

Section 1(a)(i) of EO 13662 allows for the designation of persons affirmatively determined to “operate in such sectors of the Russian Federation economy as may be determined by the Secretary of the Treasury, in consultation...