Treasury Targets Sanctions Evaders and Russian Tech Companies

The Treasury Department recently announced that OFAC has designated 21 entities and 13 individuals as part of its crackdown on the Kremlin’s sanctions evasion networks and technology companies, which are instrumental to the Russian Federation’s war machine. Treasury has also determined that three new sectors of the Russian Federation economy are subject to sanctions pursuant to Executive Order 14024. This allows Treasury to impose sanctions on any individual or entity determined to operate or have operated in any of those sectors. OFAC also designated the Russian government malicious cyber actors.