Severe response from intermediaries to new sanctions

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By Virginia Furness
12 Apr 2018

With little clarity on the full scope of the new round of sanctions on Russia from the US Office of Foreign Assets Control’s (OFAC), service providers have been quick to cut ties with the seven sanctioned oligarchs and their related entities for risk of violating new rules on facilitating business with designated individuals or entities.

The Trump Administration has targeted specific individuals and their associated corporate groups, the most high profile of these being Rusal, EN+ and Gaz Pao.

US persons will be prohibited from dealing with these companies from May 7 and June 5 (the dates apply to different persons and entities) ...

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