U.S. Imposes Sanctions on Oligarchs, Family Members, and Personal Assets

Today, the United States followed the European Union and United Kingdom in imposing sanctions on 19 Russian oligarchs and their family members and close associates.

Alisher Usmanov, an oligarch with vast holdings, was among those added to the U.S. List of Specially Designated Nationals (SDN List). However, U.S. persons are authorized to continue to engage in transactions involving companies and other entities in which Usmanov holds a majority stake pursuant to the newly issued General License No. 15. The general license authorizes U.S. persons to conduct business with entities majority owned by Usmanov and unblocks those entities’ property subject to U.S. jurisdiction. The general license functionally exempts Usmanov’s companies from the 50 Percent Rule, which imposes blocking sanctions on entities that are directly or indirectly owned 50 percent or more by SDNs.

The Office of Foreign Assets Control (OFAC) also added seven Russian entities and 26 individuals to the SDN List for their involvement in spreading disinformation that justify Russia’s activities in Ukraine.