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U.S. Sanctions Update in January 2025
In the few weeks before the inauguration of the new U.S. President, the SDN list saw several significant updates. On January 10 and January 15, as part of the Russia sanctions regime, OFAC and the U.S. Department of State designated numerous companies from the oil and gas, insurance and financial sectors adding them to the SDN list.

On January 10, the following companies were added to the SDN list:

 

  • Oil and gas companies: Gazprom Neft and its certain subsidiaries, including Gazprom Neft International SA (Luxembourg), Gazprom Neft Kazakhstan LLC (Kazakhstan), NIS AD Novi Sad (Serbia); Surgutneftegaz and its certain subsidiaries

  • Oil service companies: Gazprom Shelfprojekt, Achimgaz, Samotlorneftepromchim (SNPCh), Naftagaz-Drilling

  • Insurance companies: Ingosstrakh, Alfastrakhovanie

  • Certain UAE companies engaged in oil trading originating from Russia

  • Managers of Lukoil, Gazprom Neft and Rosatom

On January 15, the following companies were added to the SDN list:

  • Keremet Bank (Kyrgyzstan). This is the first entity added to the SDN list under Section 11 of Executive Order (E.O) 14024 on secondary sanctions for foreign financial institutions

  • Certain companies involved in the defense sector of the Russian Federation: Voentorg, Motovilikha Plants, Plant Luch

  • Contributors to the development of a Russian-Chinese clearing platform: Herbarium Office Management, Atlant Torg and certain Chinese companies

 

The basis for the designation of many major Russian entities (Alfabank, Sberbank of Russia, SPB Bank, Siberian Coal Energy Company, Kamaz, etc.) was also extended to include the new ground under E.O 13662.

 

We will also come back with a more detailed review of the new restrictions.

#news #sanctions
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