On 1 September 2016, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) supplemented sanctions against Russia imposed in connection with the conflict in Eastern Ukraine with names of a number of individuals and companies.
The recent OFAC action primarily targets the construction of the 19km-long bridge across the Kerch Strait that would link Crimea to the Russian mainland. Relevant individuals and entities have been made subject to blocking sanctions, which prohibit US persons from transacting with, or dealing with property or interests in property (broadly construed)—essentially anything of value—belonging to blocked persons. It also prevents such persons from sourcing any goods, services, or technology of U.S. origin.
Please see full Alert below for more information.