Sanctions on Russia

United States

  • Sanctions on Russia’s biggest oil companies: Rosneft and Lukoil

    The sanctions freeze the assets and financial interests of Rosneft, Lukoil, and their majority-owned subsidiaries. They are designed to cut off key revenue streams that finance Russia’s war effort.

    The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed these additional measures on Russia’s two largest oil companies — Rosneft Oil Company (Rosneft) and Lukoil OAO (Lukoil). Rosneft is a vertically integrated energy firm involved in the exploration, extraction, production, refining, transportation, and sale of petroleum, natural gas, and related products. Lukoil operates in the exploration, production, refining, marketing, and distribution of oil and gas both within Russia and internationally.

    By tightening restrictions on Russia’s energy sector, the sanctions seek to weaken the Kremlin’s ability to generate revenue for its military operations and to support its ailing economy.

  • Sanctioning Russia Act (Proposed)

    Imposition of a 500% tariff on countries purchasing Russian-origin energy products.
    Expanded sanctions targeting Russia’s banking and energy sectors.
    Authorization to use frozen Russian assets for military financing to Ukraine.

  • Gazprom Neft, Surgutneftegas and shadow tanker fleet sanctioned; petroleum-services ban and shipping-insurance risk

    Blocking sanctions on Gazprom Neft, Surgutneftegas, and over two dozen subsidiaries; U.S. petroleum-services ban effective February 27 2025; sanctions on 183 shadow-fleet and other oil tankers plus Sovcomflot, Rosnefteflot, UAE ship managers, and two Russian maritime insurers; designations for opaque oil traders and a government-linked network moving billions in Russian crude; measures against more than 30 Russia-based oilfield service providers; sanctions on senior Russian energy officials and executives; full blocking rules with the 50-percent threshold and elevated secondary-sanctions risk for shipping, insurance, and Finance facilitation of Russian oil trade.

  • Gazprombank and 50-plus banks blocked, asset freezes

    OFAC blocks Gazprombank and its six overseas subsidiaries; designates more than 50 additional Russian banks, over 40 domestic securities registrars, 15 central-bank finance officials plus staff at Russian bank branches in China and India; issues general licenses for short wind-down and divestment of Gazprombank positions; warns that foreign institutions joining Russia’s SPFS or maintaining correspondent ties with newly listed banks face secondary-sanctions risk; all newly listed parties’ U.S.-linked property and transactions are prohibited.

  • Dual-use goods, electronics, ammunition transnational networks targeted; asset freezes; tech companies sanctioned

    Blocking sanctions on nearly 400 additional targets; designations on transnational networks that supply ammunition, machine tools, electronics, and other dual-use goods; measures against trust, corporate-service, and fintech platforms enabling sanctions evasion; actions disrupting gold-laundering schemes; sanctions on Russia-based technology, defense, AI, cyber, and surveillance firms; restrictions on strategic metals, mining, and related logistics, construction, engineering, and Finance subsidiaries; warnings and penalties for overseas branches of Russian banks and foreign Finance institutions; asset freezes and transaction bans enforced under the 50-percent-ownership rule.

  • IT services ban; Moscow Exchange, key Finance institutions and 300+ entities sanctioned

    Treasury expands secondary-sanctions liability to any foreign Finance institution that transacts significantly with any E.O. 14024-blocked person; updates SDN entries to list foreign offices of Promsvyazbank, VEB, Sberbank, VTB, and VTB Capital; from 12 September 2024 prohibits supplying Russia with IT consultancy/design services and IT support or cloud services for enterprise-management and design/manufacturing software; designates Moscow Exchange, National Clearing Center, National Settlement Depository, Sogaz, Russian National Reinsurance Company, and more than 300 additional Generals and entities, including gold-laundering, UAV-, CBW-, machine-tool-, micro-electronics- and LNG-supply networks, related construction and equipment firms, seven LNG tankers, and wide segments of Russia’s defence, manufacturing, technology, transport and Finance sectors

  • Blocking sanctions on evasion & backfill networks, defense & CBW suppliers, gas companies

    Blocking sanctions on nearly 300 additional targets; designations for sanctions-evasion and backfill networks in third countries; sanctions on suppliers to Russia’s military-industrial base in technology, defense, manufacturing, transportation and construction; measures against suppliers of explosives precursors such as cotton cellulose and nitrocellulose; chemical- and biological-weapons procurement sanctions; sanctions on entities involved in natural-gas-infrastructure expansion; restrictions on future energy, metals and mining revenue; sanctions related to domestic political repression; asset freezes and transaction bans under the 50-percent-ownership rule; secondary-sanctions risk for foreign Finance institutions interacting with Russia’s defense sector; forfeiture action on dual-use aircraft components obtained in violation of controls.

  • Banks, tech & energy firms assets freezes; foreign banks face secondary-sanction risk.

    OFAC adds over 500 targets to the SDN List, including the operator of the Mir payment system, additional regional banks, investment and fintech firms, third-country sanctions-evasion networks, facilitators of Iran-designed UAV production, and hundreds of companies across Russia’s military-industrial, engineering, electronics, metals, mining, manufacturing, transport and energy-technology sectors, thereby blocking their US-linked assets and exposing foreign Finance institutions that deal with Russia’s war economy to secondary-sanctions risk.

  • Russian diamond and jewellery import ban

    OFAC prohibits the import of Russian-mined non-industrial diamonds into the United States from 1 March 2024 and separately bars the import of Russian-origin diamond jewellery and unsorted diamonds from 1 March 2024.

  • 275 targets and dual-use supply chains sanctioned; industrial-inputs and logistics restrictions

    Blocking sanctions on 275 additional targets; designations on evasion networks in 17 countries supplying advanced technology, machinery, explosives precursors, and microelectronics; measures against domestic Russian importers and manufacturers of defense hardware, aerospace systems, and key industrial inputs; sanctions on foreign logistics, Finance-technology, trust-and-corporate-service providers, and other facilitators of procurement and money flows; restrictions on suppliers of dual-use goods, strategic metals, marine equipment, and mining assets; asset freezes and transaction bans enforced under the 50-percent-ownership rule, with secondary-sanctions risk for foreign Finance institutions.