US Sanctions Major Russian State-Owned Businesses

The US Government along its at least 30 allies have imposed blocking restrictions on two Russian state-owned companies: Joint Stock Company United Shipbuilding Corporation (USC) and Public Joint Stock Company Alrosa as well as 28 USC subsidiaries and eight USC board members.

According to the US Department of Treasury (USDT), the battleships that have bombed Ukraine’s cities were conceived and built by USC, one of Russia’s largest state-owned firms, while Alrosa is a Russian government-controlled diamond mining corporation whose profits are used to fund the Russian government’s war and atrocities against Ukraine.

In a report from the USDT, it was revealed that all property and interests in property of USC and Alrosa that are in the United States or in the possession or control of U.S. persons are now blocked, and any entities held 50 percent or more by one or more blocked persons are also blocked.

All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked people have also been forbidden by the US government.

Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence said that “These actions, taken with the Department of State and in coordination with our allies and partners, reflect our continued effort to restrict the Kremlin’s access to assets, resources, and sectors of the economy that are essential to supplying and financing Putin’s brutality.”

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