The two men were among 150 others targeted by sanctions for “benefiting from, supporting and sustaining Russia’s brutal war of choice against Ukraine.”
The U.S. has issued sanctions on two Russian billionaires and over 150 other entities for allegedly profiting from Russia’s invasion of Ukraine, the Treasury Department announced Thursday, the latest sanctions imposed by the U.S. on Russian entities.... [+]Andrei Bokarev and Iskander Makhmudov had their U.S.-based assets frozen while all U.S.
Bokarev previously served as the president of Transmashholding JSC, a Russian manufacturing firm that Russian officials allegedly contacted to produce parts for infantry combat vehicles, the Treasury Department said. The Treasury Department also claimed Bokarev and Makhumdov are “linked to Russian organized crime,” while Bokarev allegedly “sought to evade sanctions” by creating shell companies to disperse his profits.
Bokarev has personal ties to Russian Defense Minister Sergei Shoigu, the Treasury Department said, in addition to other senior Kremlin officials and their families. Other Russian entities targeted by the sanctions include firms that aided in Russia’s “ability to acquire, develop and maintain technology needed by its war machine,” which includes companies tied to Russia’s construction, energy and tech sectors, among others.Treasury Secretary Janet Yellen said the sanctions target Russia’s “military supply chains and deprive Putin of the equipment, technology and services he needs to wage his barbaric war on Ukraine.
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