U.S. OFAC sanctions against Russia to impede access to battlefield supplies and target revenue generators
Measures to inhibit Russia’s access to battlefield supplies and target revenue generators
Measures to inhibit Russia’s access to battlefield supplies and target revenue generators
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking action to further implement the commitments that G7 leaders made on February 24, 2023 and May 19, 2023.
According to the Treasury release, the designations announced by OFAC and the Department of State are measures to inhibit Russia’s access to products that:
- Support its military and war efforts
- Reduce Russia’s revenue from the metals and mining sector
- Undermine its future energy capabilities
- Degrade Russia’s access to the international financial system
- Starve Russia of G7-produced technology needed for its technology, aerospace, and defense sectors
For more information on sanctions and other responses to Russia’s war on Ukraine, visit KPMG's dedicated website.
For more information, contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
John Anderson Managing Director E: johneanderson@kpmg.com |
Jenna Leigh Glass Managing Director E: jennaleighglass@kpmg.com |
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