May 28, 2024

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United States Sanctions Russian Financial Elites and a Russian Business Association

the United States is imposing sanctions on four prominent members of Russia’s financial elite who have served on the supervisory board of the Alfa Group Consortium, one of the largest financial and investment conglomerates in Russia.

In a statement, Antony J. Blinken, Secretary of State said “We are also imposing sanctions on the Russian Association of Employers the Russian Union of Industrialists and Entrepreneurs (RSPP), a Russian business organization involved in the technology sector of the Russian Federation economy.  The organization has promoted import substitution and convened meetings to promote responses to sanctions.”

“The United States will continue to take all appropriate action to hold accountable those who enable and profit from Russia’s war against Ukraine.” The statement explained.

The Department of the Treasury is taking these actions pursuant to Executive Order 14024.  Petr Olegovich Aven, Mikhail Maratovich Fridman, German Borisovich Khan, and Alexey Viktorovich Kuzmichev are being designated for operating or having operated in the financial services sector of the Russian Federation economy.  RSPP is being designated for operating or having operated in the technology sector of the Russian Federation economy.  Fridman is also being designated for having acted or purported to act for or on the behalf of, directly or indirectly, the RSPP.  Khan is also being designated for operating or having operated in the construction sector of the Russian Federation economy.  For more information about these designations, see Treasury’s press release.

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