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US Sanctions Target Russian Electronic Components Suppliers and Energy Educational Institutions
Washington D.C., [Date] - The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting Russian electronic components suppliers and energy educational institutions in a move to limit Russia’s future extractive capabilities and energy revenue.
Sanctions Targeting Electronic Components Suppliers
The latest sanctions list includes several companies involved in the production and supply of electronic components, including:
- ProIstok OOO
- Aktsionernoe Obshchestvo Proton
- Aktsionernoe Obshchestvo Proton-Elektroteks
- RSV-Expert OOO
- Sibelkom-Logistik OOO
- Simmetron Elektronnye Komponenty
- Torgovyi Dom Simmetron Elektronnye Komponenty
- Target Electronics, LLC
- Tellur Elektroniks, LLC
- Testkomplekt
- Aktsionernoe Obshchestvo Testpribor
- OOO Titan-Micro, LLC
- T-Komponent SP, LLC
- Vest-Ost, LLC
Individual Sanctioned
OFAC has also designated Russian national Anton Anatolyevich Efimov, the owner of Avesto OOO and Inelso OOO, as well as his Estonian-based firm Elfaro OU. Efimov was sanctioned for operating in the electronics sector of the Russian economy, while Elfaro OU was designated for being owned or controlled by Efimov.
Energy Educational Institutions Targeted
The sanctions also target several energy educational institutions, including:
- Saint-Petersburg Mining University (SPMI)
- Sergo Ordzhonikidze Russian State University for Geological Prospecting (MGRI)
- Almetyevsk State Oil Institute (ASOI)
- Grozny State Oil Technical University Named After Academician M.D. Millionshchikov (GSOTU)
- Gubkin Russian State University Of Oil And Gas
Rationale Behind the Sanctions
The designations were made under Executive Order 14024, which targets individuals and entities operating in the technology sector of the Russian Federation economy. The sanctions aim to restrict Russia’s ability to develop its energy sector and reduce its dependence on imported supplies.
In a statement, US Treasury Secretary Janet Yellen said: “These sanctions demonstrate our commitment to holding Russia accountable for its actions and limiting its ability to pursue policies that undermine global stability.”
Context
The latest sanctions are the latest in a series of measures taken by the US government to impose costs on Russia for its alleged interference in US elections and its activities in Ukraine.