New US sanctionsPersonal sanctions
The Specially Designated Nationals and Blocked Persons list (SDN) was extended on 24 February 2023. Blocking sanctions have been imposed against certain companies, including enterprises of the military-industrial complex, the metallurgical sector and the mining industry
Large Russian banks have also been included in the SDN, including Moscow Credit Bank PJSC, Bank Uralsib PJSC, MTS-Bank PJSC, Zenit Bank PJSC, AKB Metallinvestbank PJSC, SDM-Bank PJSC, AKB Lanta-Bank JSC, and Sankt-Peterburg Bank PJSC
. Unlike the EU, the USA has not imposed blocking sanctions on Tinkoff Bank JSC.
In addition, secondary sanctions have been imposed on companies in Switzerland, Bulgaria, Cyprus and Malta which the USA believes have helped Russia to circumvent sanctions (the Maltese company Stratton Investment Group Ltd, the UAE-based companies Taerio Limited and Tamyna FZE, et al.)
The US Department of Commerce has significantly extended the list of luxury articles for which an additional permit (licence) is required for shipment to Russia. Luxury articles now include smartphones priced higher than USD 300 and domestic appliances (such as refrigerators, freezers, extractor hoods, coffee machines, electric kettles, washing machines, etc.)
. The EU has already imposed similar restrictions on supplies of expensive domestic appliances to Russia.
In addition, the US Department of Commerce has imposed personal trade restrictions against 89 entities from Russia and other countries (for example, KAMAZ PJSC, Megafon PJSC, Skolkovo Technology Park, et al.)
. Companies included in the Commerce Department’s list are subject to more stringent export controls (including on re-export and transit). In particular, a licence is generally required to supply goods to the entities concerned.
US import restrictions include increased duties on imports to the USA from Russia of certain metals, minerals and chemical products
. In addition, the US President ordered a 200% duty to be imposed on aluminium products made in Russia from Russian raw materials