US expands Russian sanctions list

By bne IntelliNews June 21, 2017

The US Treasury added 38 individuals and organisations to the Russia sanctions list on June 20, as Ukrainian President Petro Poroshenko visited the White House and Russia placed $3bn in sovereign Eurobonds.

The list additions, as well as moves by the US Senate to broadly expand the range of the sanctions imposed in 2014 over Moscow’s actions in Ukraine, bolster Poroshenko’s calls for a tougher sanctions regime against Russia and more support for his country.

“Today’s action is designed to counter attempts to circumvent US sanctions and will maintain alignment of US measures with those of our international partners,” the Treasury’s Office of Foreign Assets Control (OFAC) said in a press release.

The list includes individuals, officials, and companies allegedly involved with the annexation of the Crimea, the city of Sevastopol, and the ongoing conflict in the Donbas region in East Ukraine.

Most notably, the expanded list includes a number of arms producers and the private military company Wanger allegedly active in Ukraine and Syria, as well as numerous subsidiaries of Transneft, Russia’s state oil pipeline monopoly, among them Transneft Finans.

“US sanctions on Russia related to the situation in eastern Ukraine will remain in place until Russia fully honors its obligations under the Minsk Agreements,” the Department of the Treasury said.

Deputy Russian Foreign Minister Sergei Ryabkov told on June 20 that Russia will start designing counter-sanctions as a response to the latest US move.

Meanwhile, a bill significantly broadening the Russia sanctions has run into delays in the US House of Representatives after the Senate passed the measures by 98-2 votes on June 13. Instead of building on this momentum, the Republican leadership in the House sent it to the Foreign Affairs Committee for review.

“We all know that the Russians tried to interfere in our elections,” Republican John McCain said amid the delays. “Here we are six months later and we’ve done nothing.”

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