Washington — The U.S. Treasury has taken a strong stance against Russian efforts to evade sanctions, imposing sanctions on a Russian citizen and three Russia-based companies on Tuesday. These sanctions were put in place to prevent the unfreezing of over $1.5 billion belonging to Russian metals tycoon Oleg Deripaska.
Deripaska, who was himself placed under U.S. sanctions in April 2018, has made a fortune in the metals trading industry since the collapse of the Soviet Union. With a fortune estimated at $2.8 billion by Forbes, Deripaska has been a major player in the Russian economy.
According to the Treasury, in June 2023, Deripaska coordinated with Russian citizen Dmitrii Beloglazov, the owner of Russia-based financial services firm Obshchestvo S Ogranichennoi Otvetstvennostiu Titul (Titul), on a planned transaction to sell Deripaska’s frozen shares in a European company. This move was seen as an attempt to bypass the sanctions imposed on Deripaska and gain access to his frozen assets.
In a swift response, the Treasury has imposed sanctions on Beloglazov, Titul, and another Russia-based financial services firm, Aktsionernoe Obshchestvo Iliadis. These sanctions were imposed for operating or having operated in Russia’s financial services sector. Additionally, the Treasury has also sanctioned Rasperia, a Russia-based investment holding company, for being owned or controlled by, or having acted or purported to act on behalf of Iliadis.
The Treasury’s actions send a strong message to those who attempt to evade sanctions and undermine the efforts of the international community to hold accountable those who engage in illicit activities. These sanctions serve as a warning to those who seek to profit from illegal activities and disregard the rule of law.
The U.S. government remains committed to enforcing sanctions and holding accountable those who attempt to evade them. These sanctions are a crucial tool in promoting stability and security in the global financial system and preventing the flow of illicit funds.
The Treasury’s actions also demonstrate the United States’ unwavering support for the rule of law and the international sanctions regime. By targeting those who seek to undermine the sanctions, the U.S. is sending a clear message that it will not tolerate any attempts to circumvent the rules and regulations put in place to promote global security and stability.
The U.S. government is also working closely with its international partners to ensure that these sanctions are effective and have a significant impact on those who engage in illicit activities. This coordinated effort is crucial in deterring individuals and entities from attempting to evade sanctions and promoting a more secure and stable global financial system.
The sanctions imposed on Beloglazov, Titul, Iliadis, and Rasperia are a clear indication that the U.S. will not hesitate to take action against those who engage in illicit activities and attempt to undermine the sanctions regime. These sanctions serve as a warning to others who may be considering similar actions and reinforce the U.S.’s commitment to promoting a rules-based international order.
The U.S. Treasury’s actions also highlight the importance of transparency and accountability in the global financial system. By targeting those who operate in the financial services sector, the U.S. is sending a message that it will not tolerate any attempts to use the financial system for illicit purposes.
In conclusion, the U.S. Treasury’s decision to impose sanctions on a Russian citizen and three Russia-based companies is a strong and necessary step in promoting global security and stability. These sanctions serve as a warning to those who seek to evade sanctions and engage in illicit activities, and reinforce the U.S.’s commitment to upholding the rule of law and promoting a more secure and stable global financial system. The U.S. government will continue to work closely with its international partners to ensure that these sanctions are effective and have a significant impact on those who engage in illegal activities.
