Legal News

US Treasury and UK curb Russia’s access to international financial system

Published on: 13 April 2023
Published by LNB News

LNB News 13/04/2023

Document Information

Issue Date: 13 April 2023

Published Date: 13 April 2023

Jurisdiction(s): England, Northern Ireland, Scotland, Wales, UK and USA

Article summary

US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is coordinating with the UK to curb Russia’s access to the international financial system. This is a joint effort, targeting the facilitation network of Alisher Usmanov, who is subject to sanctions in multiple jurisdictions. This action also included designations of 25 individuals and 29 entries with touchpoints in 20 jurisdictions to reinforce existing measures and disrupt Russia’s importation of technologies used in war against Ukraine.

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