Monthly Archives: May 2024

Canada adds two Russian individuals and six entities to the sanction list

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Mélanie Joly, the Minister of Foreign Affairs of Canada, has announced that Canada has imposed additional sanctions on two individuals and six entities under the Special Economic Measures (Russia) Regulations.

The new sanctions target individuals and entities that facilitated the  illicit transfer of weapons, including ballistic missiles, from North Korea to Russia.

These individuals and entities have beenadded to the sanction list:

  • Mikheychuk Vladimir Vladimirovich (also known as Vladimir Vladimirovich MIKHEICHIK) (born on May 16, 1970);
    Shastin Vladimir Ivanovich;
  • Sovfracht JSC (also known as OJSC SOVFRACHT and SVH-Freight JSC);
  • Azia Shipping Company LLC (also known as Sudokhodnaya Kompaniya Azia LLC, AZSCO and Azia Shipping Co);
  • The 224th Flight Unit State Airlines JSC (also known as TTF Heavy Lifting);
  • Marine Trans Shipping LLC;
  • M Leasing LLC;
  • MG-Flot LLC (also known as TransMorFlot, TransMorFlot Shipping Company and Transseaport).

UN imposes sanctions on Al-Shabaab leaders

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The United Nations Security Council has added three individuals linked to Al-Shabaab to its sanctions list of individuals and entities subject to measures imposed by the Security Council under Chapter VII of the UN Charter.

These individuals are:

  • Abdulkadir Mohamed Abdulkadir, a senior Al-Shabab leader born in 1985 in Somalia.
  • Mohamed Mire, known as a member of the Shura council of Al-Shabbab, born between 1960 and 1955, from Kismayo in Somalia
  • Ma’d Umurow, also known as Mohamed Omar Haji or Mohamed Omar Ma’alin, leader of the Al Shabab group in Dinsor, born in the Taflow village in Berdaale district, Bay region, Somalia in 1976.

According to the information from the US National Counterterrorism Center, Harakat Shabaab al Mujahideen – commonly known as Al-Shabaab – is the militant wing of the Somali Islamic Courts Council that took over most of Southern Somalia in the latter half of 2006. Despite being defeated by Somali and Ethiopian forces in 2007, Al-Shabab, a clan-based insurgent and terrorist organization, has continued its violent insurgency in Southern and Central Somalia.

The son-in-law of the Russian Foreign Minister challenges the EU sanctions in court

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The son-in-law of the Russian Foreign Minister challenges the EU sanctions in courtThe fate of EU sanctions against Russian businessman Alexander Vinokurov may be decided at the Court of Justice of the European Union on May 29th. On this day, a meeting is scheduled regarding the claim of a businessman challenging the sanctions imposed on him in the spring of 2022 for activities in sectors of the economy that provide a significant source of income for the government of Russia.

Alexander Semenovich Vinokurov / Photo: tularegion.ru

Alexander Vinokurov, a graduate of Cambridge University and president of Marathon Group investment company and shareholder in Magnit retail chain, is married to Catherine, daughter of Russian Foreign Affairs Minister Sergey Lavrov.

Sergey Lavrov / Photo: kremlin.ru

Magnit is one of Russia’s leading food retail chains, number one by the amount of stores and geographical coverage.
The company operates in about 4,287 localities: about 17 million customers visit its stores every day. Magnit utilizes a multiformat model, which includes convenience and drogerie stores, supermarkets and pharmacies. As of December 31, 2023, the company had a total of 29,165 stores in 67 regions of Russia. Magnit’s cross-format loyalty programme covers over 76 million people.

According to the IAS 17 results for FY 2023, Magnit’s revenue amounted to RUB 2,545 billion, EBITDA – to RUB 166 billion.

Former Chief of the Bangladesh Army has been blocked by the U.S.

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The US Department of State has announced the public designation of General Aziz Ahmed, formerly Chief of Bangladesh’s Army Staff, for his involvement in significant corruption.

According to the statement, Aziz engaged in significant corrupt activities by interfering with public processes and helping his brother avoid accountability for criminal activities in Bangladesh.

He also worked closely with his brother to secure the inappropriate awarding of military contracts, accepting bribes in return for government appointments to benefit himself.

After the public designations, Aziz and his immediate family are generally ineligible to enter the United States.

Polymetal International plc will change its name after the sale of its business in Russia

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Polymetal International plc announced that at a general meeting of shareholders on June 11th in Astana, Kazakhstan, the issue of changing the name to Solidcore Resources Plc would be considered.

The Russian mining company, Polymetal, was founded in 1998 by Alexander Nesis. Polymetal International plc, the parent company of Polymetal Group, was registered on the island of Jersey.

In May of 2023, the U.S. Treasury Department imposed sanctions on the Russian company Polymetal, but not on PolyMetal International plc. Later in August, PolyMetal International plc completed the process of redomiciling the company from Jersey to Astana.

Kazakhstan / Photo: Polymetal International plc

In March 2024, Polymetal International plc announced the sale of 100% of the shares of Polymetal to Mangazeya Plus JSC, owned by Russian businessman Sergey Yanchukov.

“With the closing of the transaction, the main risks have been leveled and now management plans to present a new strategy and capital allocation policy in May”, said Vitaly Nesis (brother of Alexander Nesis), Chief Executive Officer of Polymetal at the time.

As a result of the transaction Polymetal reduced net external debt by $2.2 billion, fully repaying intra-group debts in the amount of $1.04 billion after taxes and receiving $300 million in taxes.

The US strikes by sanctions on facilitating arms transfers between Russia and North Korea

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on two Russian individuals and three Russian-based entities for facilitating arms transfers between Russia and North Korea.

“Today’s action reflects our commitment to disrupt the DPRK’s deepening military cooperation with Russia,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.

The following persons and entities have been added to the OFAC sanctions list:

  • Budnev, Aleksey Viktorovich (Cyrillic: Буднев Алексей Викторович. Russia; DOB 09 Jul 1964; POB Krymskaya Region, Russia; nationality Russia; Tax ID No. 504217593565). He has facilitated shipments to Russia of military communications equipment that likely originated from the DPRK intended to support the Russian military. Budnev is the sole owner of Russia-based Tekhnologiya, OOO.
  • Gazaryan, Rafael Anatolyevich (Cyrillic: Газарян Рафаэль Анатольевич. Russia; DOB 02 Oct 1954; nationality Russia; Passport 6102814100 (Russia); Tax ID No. 622800585633). He helped to previously sanctioned Russian businessmen Ashot Mkrtychev. In March 2023, OFAC designated Ashot Mkrtychev for attempting to facilitate arms deals between Russia and the DPRK.
  • Rafort Limited Liability Company was sanctioned because it was owned or controlled by Rafael Anatolyevich Gazaryan.
    Tekhnologiya, OOO was sanctioned because it was owned or controlled by Aleksey Budnev.
  • Trans Kapital Limited Liability Company was sanctioned for provided financial, material, or technological support for, or goods or services to or in support of Rafael Anatolyevich Gazaryan.

The U.S. hits Nicaragua-Based Gold-Mining Companies and a Russian Institution

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OFAC, the Department of Treasury’s Office of Foreign Assets, has imposed sanctions on three entities based in Nicaragua: the Training Center of the Russian Ministry of Internal Affairs in Managua (RTC); Compania Minera Internacional, Sociedad Anónima (COMINTSA); and Capital Mining Investment Nicaragua, Sociedad Anónima (Capital Mining).

The President of Nicaragua, Daniel Ortega / Photo: kremlin.ru

The RTC is a Nicaragua-based subdivision of the Government of the Russian Federation’s Ministry of Internal Affairs.

The Training Center of the Russian Ministry of Internal Affairs in Managua / Photo: mvd.ru

The RTC is a subdivision of the Ministry of Internal Affairs of the Government of Russia’s (GOR), based in Nicaragua. It trains the Nicaraguan National Police (NNP) and other law enforcement agencies in Latin America.

The Training Center of the Russian Ministry of Internal Affairs in Managua / Photo: mvd.ru

According to OFAC, the RTC in Nicaragua trains Nicaraguan police officers to “better confront ‘coup plotters'” – those who dare to voice their opposition to the regime.

The Training Center of the Russian Ministry of Internal Affairs in Managua / Photo: mvd.ru

COMINTSA and Capital Mining are government-affiliated gold companies that generate revenue for the Ortega-Murillo regime. Capital Mining is controlled by Laureano Ortega Murillo, the son of President Ortega and Vice President Murillo.

New Zealand announces new sanctions on Russia

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New Zealand’s Foreign Minister, Winston Peters, announced sanctions on 28 individuals and 14 entities providing military and strategic support to Russia’s invasion of Ukraine.

“Russia is directly supported by its military-industrial complex in its illegal aggression against Ukraine, attacking its sovereignty and territorial integrity. New Zealand condemns all entities and individuals providing this military support,” said Winston Peters.

“As part of this new tranche of sanctions, New Zealand is targeting individuals and entities who are involved with the transfer of weaponry from the DPRK into Russia, for use against Ukraine, as well as Iranian actors involved in the provision of military assistance to Russia,” stressed Winston Peters.

With this announcement, New Zealand imposed sanctions on more than 1,700 individuals and entities since the Russia Sanctions Act came into force in March 2022.

The names of individuals and companies that have been sanctioned are still unknown.

The U.S. has imposed sanctions on the founder of Erich Krause for helping Russian oligarch Deripaska

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on an individual and three Russian companies involved in helping Russian oligarch Oleg Vladimirovich Deripaska evade sanctions.

The following individuals and entities were added to the SDN list:

  • Beloglazov Dmitrii Aleksandrovich. Russia; DOB 18 Feb 1968; POB Russia; nationality Russia; Gender Male.
  • JSC Illiadis. Tax ID No. 9709096348 (Russia);
  • MKAO Rasperia Treiding Limited. Tax ID No. 3906380371 (Russia);
  • OOO Titul. Tax ID No. 7703474952 (Russia).

According to the OFAC’s statement, in June 2023, Oleg Deripaska coordinated with Dmitry Aleksandrovich Beloglazov, owner of the Russia-based financial services company OOO Titul, on a planned transaction to sell his frozen shares in a European company. Within weeks of this coordination, the Russia-based Iliadis financial services firm was established as a subsidiary of Titul. Early in 2024, Iliad acquired the Russia-based Rasperia investment holding company, which holds Oleg Deripaska’s frozen shares.

Oleg Deripaska has been under sanctions from the United States since 2018 due to his actions or alleged actions on behalf of senior officials of the Russian government. He has been investigated for money laundering and accused of threatening business rivals’ lives, illegal wiretapping of government officials, and involvement in extortion and racketeering.

Russian ex-President Dmitri Medvedev and Oleg Deripaska / Photo: kremlin.ru

Dmitrii Beloglazov is the founder of Erich Krause, a Russian brand of office supplies manufactured mainly in Southeast Asia and sold mainly in Russia. Erich Krauses Group has divisions located in Hong Kong, Panama, Finland, Spain, Bulgaria, Romania, and Latvia. The group owns three logistics centers in Latvia, Panama, and Russia, with a warehouse area of more than 30,000 square meters.

The Russian Direct Investment Fund has remained under sanctions

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The European Court of Justice refused the Russian Direct Investment Fund’s (RDIF) request to lift EU sanctions against it.

In court, the foundation argued that the Council of the European Union distorted the role of the President and Prime Minister of Russia in its management by incorrectly citing a link from the foundation’s website.

According to the fund, in reality, it was managed by its own management company, JSC Management Company of the Russian Direct Investment Fund.

Russian president Vladimir Putin and CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev / Photo: kremlin.ru

Additionally, the RDIF argued that its investments were not related to military projects but rather included projects that benefited the entire world, such as significant investments in developing an effective COVID-19 vaccine.
However, these arguments were not enough to convince the court, which upheld the sanctions.

RDIF was established in 2011 at the initiative of the President and Prime Minister of Russia. It invested more than 2.2 trillion rubles, with more than 300 billion coming from the RDIF, and 1.9 trillion coming from partners. Kirill Dmitriev heads the Foundation.