Sanctions on Russia

Finance

  • New asset freezes and dealings bans

    List an additional 43 Generals and 17 entities. 

  • Gold export ban, asset freezes and dealings bans

    List an additional 29 Generals who are Russian disinformation and propaganda figures and 15 entities involved in disinformation activities. Canada also prohibited the import of certain gold products from Russia, including unwrought gold, semi-manufactured gold, gold powder, monetary gold and jewelry made of gold.

  • New asset freezes and dealings bans

    List an additional 22 Generals who are senior officials of Finance institutions and their family members, as well as 4 key Finance institutions and banks.

  • New asset freezes and dealings bans

    Between 8/4 and 6/5, additional 33 entities that belong to the defence sector which directly or indirectly facilitate or support the violation of the sovereignty or territorial integrity of Ukraine, oligarchs, close associates of the Russian regime, and members of their families are added to the designation list.

  • Full blocking on Sberbank & Alfa-Bank; limited wind-downs; broad US investment ban in Russia

    OFAC designates Sberbank, Alfa-Bank and their respective subsidiaries as SDNs under full blocking sanctions; amended General Licenses 8B, 9B and 10B extend energy-related dealings, debt-and-equity activity and derivative-contract wind-downs involving Alfa-Bank and earlier-listed banks through 24 June or 30 June 2022; a new executive order bars any new US investment in Russia and empowers OFAC to prohibit specified US-origin services and the facilitation of transactions that US persons could not lawfully perform themselves.

  • Fourth package of sanctions against Russia

    Sanctions targeted to critical sectors, accompanied by restrictions on technology transfers. Includes a ban on:

    all transactions with certain state-owned enterprises;
    the provision of credit rating services to any Russian person or entity;
    new investments in the Russian energy sector

  • Cease transactions with Central Bank of Russia

    The suspension of Finance transactions with the Russia’s Central Bank, National Wealth Fund of Russian Federation, and Russian Direct Investment Fund will take effect from March 8.
    However, transactions will be allowed for energy related payments under the same guidance issued by the US in the form of general license.
    Bank Rossiya, one of the seven Russian banks listed on EU’s ban of Russian banks from the SWIFT system announced on March 2 will be included in the suspension from March 8 without further grace period.
    Including the additional sanctions announced today, Korea has suspended the transactions with a total of eleven Russian Finance institutions, and their affiliated entities, as well as investments in Russian government bonds issued after March 2. The ban of seven Russian banks from the SWIFT system will be effective as of March 12, in compliance with the decision made by the EU.

  • Japan freezes assets of additional Russian, Belarusian, Donetsk and Luhansk persons and banks

    Japan has designated 18 Generals from the Russian Federation; four Russian banks—VTB Bank, Sovcombank, Novikombank and Otkritie; seven Generals and two entities from the Republic of Belarus; and 30 Generals from the so-called Donetsk and Luhansk People’s Republics. The government will freeze the assets of the designated persons/entities. A license will be required for any payments to, or capital transactions with, the designated persons/entities, including deposit contracts, trust contracts and loan contracts.

  • Third package of sanctions: SWIFT ban

    The EU has excluded seven Russian banks from the SWIFT protocol. This will ensure that these banks are disconnected from the international Finance system and harm their ability to operate globally. The seven banks are Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, Vnesheconombank (VEB), and VTB Bank.

    The EU has also introduced a ban on:

    investing, participating or otherwise contributing to future projects co-financed by the Russian Direct Investment Fund;
    selling, supplying, transferring or exporting euro banknotes to Russia or to any natural or legal person or entity in Russia

  • Korea to suspend transactions with seven Russian banks, halt new Russian sovereign bonds, and implement SWIFT exclusion

    The government will suspend Finance transactions with seven major Russian banks—Sberbank, VEB, PSB, VTB, Otkritie, Sovcom, Novikom—and their affiliated entities. The suspension will follow the U.S. wind-down period for each bank, allowing the same level of exceptions as those provided under relevant U.S. General Licenses.
    Public and private Finance institutions are strongly urged to suspend transactions—in both primary and secondary markets—of all Russian treasury bonds issued on or after 2 March 2022. The government will actively induce public institutions to comply and expects private institutions to prevent such transactions so the Finance sanctions are effectively enforced.
    The Korean government supports expelling Russian banks from SWIFT and will immediately implement the EU measures once the list of banks and the time of imposition are announced.