With Wide-Ranging New Sanctions, Treasury Targets Russian Military-Linked Elites and Industrial Base

Date issued: Sep. 14 2023

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TURBOFAC Commentary (424 words)

Notes:

1) On 9-15-23 OFAC and the State Department, respectively, released With Wide-Ranging New Sanctions, Treasury Targets Russian Military-Linked Elites and Industrial Base (OFAC Press Release) and Imposing Further Sanctions in Response to Russia’s Illegal War Against Ukraine (State Dep't Press Statement).

Both of these press releases contain information on designations that appear to meet our criteria for classification as "quasi secondary sanctions" actions. See Introductory Note Common to all Derivative Designation Notices Included in the Research System for details on those criteria.

2) Notes Specific to This Press Release:

(i) The "Siberica and Luminor Network" Designations

OFAC designates two Finnish entities for "operating or having operated in the electronics sector of the Russian Federation economy" as a result of their shipments to Russia of "a wide...