US sanctions against Russia: seven Russian citizens have been removed from the list

This is stated in an update from the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury.

OFAC has removed seven Russians from the list of specially designated nationals and blocked persons. Among them are Ivan Potanin, son of Russian oligarch Vladimir Potanin, as well as German Bilous, Irina Kremleva, Mikhail Klyukin, Viktor Nikolaev, Nadezhda Cherkasova and Maxim Smirnov.

On the OFAC list, some of these individuals were linked to the Russian banks Otkritie, Sovcombank and Novikombank.

Which vessels and companies have been removed from the sanctions list

In addition to individuals, the US removed two Russian dry cargo vessels from the list — the Vyacheslav Arshinov and the Gennady Egorov. They were linked to the Russian State Transport Leasing Company.

Two Turkish companies — IDA Asansor Sanayii Ve Ticaret Limited Sirketi and DEIN Danismanlik Pazarlama Ve Ticaret Anonim Sirketi — were also removed from the list.

Removal from the SDN list means that the specific restrictions associated with their inclusion on the list no longer apply to these individuals, vessels and companies.

This is important for business, as US sanctions lists are taken into account by banks, insurance companies, logistics operators and international counterparties. If an individual or company is removed from the list, this may open up the possibility of certain transactions with them.

At the same time, this does not signify a relaxation of the US’s overall sanctions policy towards Russia. It is a targeted update to a specific list.

OFAC regularly updates its sanctions lists: adding new names, companies and vessels, or removing individual entries. Such changes may be linked to administrative decisions, legal proceedings or a review of the grounds for sanctions; however, in this instance, the US Treasury Department has not specified the reason for the removal.

As reported by ThePublic, the UK has imposed sanctions on a crypto network through which Russia channelled $90 billion

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