In a significant move, the United States has expanded sanctions on Russia, marking the largest update this year. Key Russian figures, including Iskander Makhmudov and others, face new U.S. sanctions effective September 14.
The machine building sector sees several entities added to the sanctions list, such as Transmashholding, AvtoVAZ, Sollers, and more.
Further entities affected include Russian Copper Company (RMK), and Roman Trotsenko’s Russian Energy Group, along with affiliated assets.
While the U.S. Treasury Department’s sanctions enforcement unit, OFAC, issues a license for limited transactions with certain entities, the impact of these sanctions is significant across industries. The licenses are effective until December 13 of this year.
