The US Department of the Treasury has announced sanctions against nearly 400 companies and individuals in order to disrupt the supply of goods and payments to Russia.
“Companies, financial institutions, and governments around the world need to ensure they are not supporting Russia’s military-industrial supply chains,” said Deputy Secretary of the Treasury Wally Adeyemo.
SanctionsLists.org reveals who has been sanctioned and what it means for Russia.
Among those included on the sanctions list is the Centre of Financial Technologies Group , one of the largest software developers in the Russian market. This company develops software for the Zolotaya Korona payment system (Koronapay brand). Using this system, people can transfer money from EU countries to several former Soviet republics, such as Uzbekistan, Kyrgyzstan and Azerbaijan. According to the company’s website, Koronapay Europe Limited is registered in Cyprus and the KoronaPay mobile app is used by over 17 million people.
Additionally, the United States has imposed sanctions on Atol and Diasoft companies, which develop software for payments and trading. According to a statement from Atol, almost 40% of purchases in Russia are made using its software and equipment, and every second online purchase in Russia is processed through their cloud service.
Most of the new sanctions package are related to specific businesses and companies involved in schemes to supply goods to Russia, including those from China, Italy, France, and Switzerland. This is likely a way for the United States to show that sanctions can be imposed on anyone who aids Russia in prohibited payments and goods supply. For example, Alexander Orlov, a Swiss citizen, helped with the supply of technology and goods for the Russian military industry. He used companies in the UK, such as Alexandre Orloff Ltd and its subsidiaries Zvigeni Technological Systems Limited and Dougong Trading Hong Kong Limited, as well as 9105 2829 Quebec Inc. in Canada.
Some of the companies listed on the US sanctions list include those located in Europe and have Russian owners. For example, the co-owners of the Russian equipment supplier Dalkos Co. Ltd., Konstantin Svyatoslavovich Kalinov and Alexander Alexandrovich Pushkov, also own the Estonian company SPE OU. The US sanctions are likely to encourage the authorities of European countries to verify the legitimacy of companies doing business with beneficiaries in Russia.
The full list of sanctioned companies and individuals can be found on the website of the US Department of the Treasury.
