On March 24, 2022, the OFAC designated dozens of Russian defense companies, 328 members of the Russian State Duma, and the head of Russia’s largest financial institution. This is in line with OFAC’s actions to impose severe costs on the Russian Federation for its illegal, unwarranted, and baseless war against Ukraine. The European Union, the United Kingdom, and Canada have also taken similar actions which reflects continued unity to hold Putin accountable for the war that he started.
On the same day, the Treasury also issued a new FAQ to blunt the ability of the Central Bank of Russian Federation to make any transaction, including gold-related transactions, to help the Russian economy and fund the war.
Read the Treasury’s full press release here.
See the new FAQ on Russian Harmful Foreign Activities Sanctions here.
