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2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs February 24, 2022 United States Acts in Tandem with Partners and Allies to Maximize Consequences for Russia, and in Show of Unity Against Invasion of a Sovereign State Top Ten Russian Financial Institutions Now Under U.S Restrictions; U.S. Ready to Impose Additional Major Costs WASHINGTON – The United States took significant and unprecedented action to respond to Russiaʼs further invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term e ects on the Russian economy and financial system. The U.S. Department of the Treasuryʼs O ice of Foreign Assets Control (OFAC) today imposed expansive economic measures, in partnership with allies and partners, that target the core infrastructure of the Russian financial system — including all of Russiaʼs largest financial institutions and the ability of state-owned and private entities to raise capital — and further bars Russia from the global financial system. The actions also target nearly 80 percent of all banking assets in Russia and will have a deep and long-lasting e ect on the Russian economy and financial system. Building o of President Bidenʼs initial sanctions announcement this week, today Treasury is taking action against Russiaʼs top financial institutions, including sanctioning by far Russiaʼs two largest banks and almost 90 financial institution subsidiaries around the world. Treasury is also sanctioning additional Russian elites and their family members and imposing additional new prohibitions related to new debt and equity of major Russian state-owned enterprises and large privately owned financial institutions. This will fundamentally imperil Russiaʼs ability to raise capital key to its acts of aggression. These actions are specifically designed to impose immediate costs and disrupt and degrade future economic activity, isolate Russia from international finance and commerce, and degrade the Kremlinʼs future ability to project power. “Treasury is taking serious and unprecedented action to deliver swi and severe consequences to the Kremlin and significantly impair their ability to use the Russian economy https://home.treasury.gov/news/press-releases/jy0608 1/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … and financial system to further their malign activity,” said Secretary of the Treasury Janet L. Yellen. “Our actions, taken in coordination with partners and allies, will degrade Russiaʼs ability to project power and threaten the peace and stability of Europe. We are united in our e orts to hold Russia accountable for its further invasion of Ukraine while mitigating impacts to Americans and our partners. If necessary, we are prepared to impose further costs on Russia in response to its egregious actions.” Russiaʼs large financial services sector is heavily dominated by state-owned actors that rely on the U.S. financial system to conduct their business activities both within Russia and internationally. The sanctions the United States is imposing today cut o major parts of the Russian financial system and economy from access to this important financial infrastructure and the U.S. dollar more broadly. The United States consulted closely with partners to tailor the economic costs of these actions to weigh most heavily on the Government of the Russian Federation (GoR) and its economy while mitigating impacts to America and its allies. Treasuryʼs sustained financial diplomacy over several months, on a near daily basis with partners and allies and at every level, has strengthened a unity of purpose, resolve, and technical coordination to deliver a broad array of impactful measures that will be felt deeply in Russia. Todayʼs actions were taken pursuant to Executive Order (E.O.) 14024, which authorizes sanctions against Russia for its harmful foreign activities, including violating core principles of international law such as respect for the territorial integrity of sovereign states. MAJOR ECONOMIC ACT IONS Targeting Russiaʼs Two Largest Financial Institutions Treasury is taking unprecedented action against Russiaʼs two largest financial institutions, Public Joint Stock Company Sberbank of Russia (Sberbank)and VTB Bank Public Joint Stock Company (VTB Bank), drastically altering their fundamental ability to operate. On a daily basis, Russian financial institutions conduct about $46 billion worth of foreign exchange transactions globally, 80 percent of which are in U.S. dollars. The vast majority of those transactions will now be disrupted. By cutting o Russiaʼs two largest banks — which combined make up more than half of the total banking system in Russia by asset value — from processing payments through the U.S. financial system. The Russian financial institutions subject to todayʼs action can no longer benefit from the remarkable reach, e iciency, and security of the U.S. financial system. https://home.treasury.gov/news/press-releases/jy0608 2/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … Correspondent and Payable-Through Account Sanctions on Sberbank Today Treasury is imposing correspondent and payable-through account sanctions on Sberbank. Sberbank is uniquely important to the Russian economy, holding about a third of all bank assets in Russia. Sberbank is the largest financial institution in Russia and is majorityowned by the GoR. It holds the largest market share of savings deposits in the country, is the main creditor of the Russian economy, and is deemed by the GoR to be a systemically important financial institution. Within 30 days, OFAC is requiring all U.S. financial institutions to close any Sberbank correspondent or payable-through accounts and to reject any future transactions involving Sberbank or its foreign financial institution subsidiaries. Payments that Sberbank attempts to process in U.S. dollars for its clients — with examples ranging from to technology to transportation — will be disrupted and rejected once the payment hits a U.S. financial institution. To implement sanctions on Sberbank, OFAC issued Directive 2 under E.O. 14024, “Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions” (the “Russia-related CAPTA Directive”). This directive prohibits U.S. financial institutions from: (i) the opening or maintaining of a correspondent account or payable-through account for or on behalf of any entity determined to be subject to the prohibitions of the Russia-related CAPTA Directive, or their property or interests in property; and (ii) the processing of transactions involving any such entities determined to be subject to the Russia-related CAPTA Directive, or their property or interests in property. Accordingly, U.S. financial institutions must reject such transactions unless exempt or authorized by OFAC. Pursuant to Directive 2 under E.O. 14024, Sberbank and 25 Sberbank foreign financial institution subsidiaries that are 50 percent or more owned, directly or indirectly, by Sberbank were identified in Annex 1 to the Russia-related CAPTA Directive. These subsidiaries include banks, trusts, insurance companies, and other financial companies located in Russia and six other countries. Sberbank and other a iliated entities determined to be subject to the Russia-related CAPTA Directive have been added to OFACʼs List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (CAPTA List), a reference tool that provides actual notice of OFAC actions with respect to foreign financial institutions for which the opening or maintaining of a correspondent account or a payable-through account in the United States is prohibited or subject to one or more strict conditions. All foreign financial https://home.treasury.gov/news/press-releases/jy0608 3/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … institutions owned 50 percent or more, directly or indirectly, by Sberbank are covered by the prohibitions of the Russia-related CAPTA Directive, even if not identified on OFACʼs CAPTA List. The prohibitions of the Russia-related CAPTA Directive take e ect beginning at 12:01 a.m. eastern daylight time on March 26, 2022. Accordingly, by 12:01 a.m. eastern daylight time on March 26, 2022, U.S. financial institutions must have closed any correspondent or payablethrough account maintained for Sberbank all other entities listed in Annex 1 to the Russiarelated CAPTA Directive, and all foreign financial institutions owned 50 percent or more by the foregoing. In addition, a er 12:01 a.m. eastern daylight time on March 26, 2022, U.S. financial institutions may not process transactions involving those institutions and must reject such transactions, unless exempt or authorized by OFAC. Full Blocking Sanctions on VTB OFAC has imposed full blocking sanctions on VTB Bank, Russiaʼs second-largest financial institution, which holds nearly 20 percent of banking assets in Russia. VTB Bank is majorityowned by the GoR, which deems it to be a systemically important financial institution. This will sever a critical artery of Russiaʼs financial system. By imposing these sanctions, assets held in U.S. financial institutions will be instantly frozen and inaccessible to the Kremlin. This is one of the largest financial institutions Treasury has ever blocked and sends an unmistakable signal that the United States is following through on its promise of delivering severe economic costs. VTB Bank was designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR, and for operating or having operated in the financial services sector of the Russian Federation economy. In addition, 20 VTB Bank subsidiaries were designated pursuant to E.O. 14024 for being owned or controlled by, directly or indirectly, VTB Bank. These subsidiaries include banks, holding companies, and other financial companies located in Russia and eight other countries. All entities owned 50 percent or more, directly or indirectly, by VTB Bank are subject to blocking, even if not identified by OFAC. B LOCKING OT HER MAJOR RUSSIAN F INANCIAL INST IT UT IONS OFAC has also imposed blocking sanctions on three additional major Russian financial institutions: Otkritie, Novikom, and Sovcom. These three financial institutions play significant https://home.treasury.gov/news/press-releases/jy0608 4/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … roles in the Russian economy, holding combined assets worth $80 billion. These designations further restrict the Russian financial services sector and greatly diminish the ability of other critical Russian economic sectors from accessing global markets, attracting investment, and utilizing the U.S. dollar. Public Joint Stock Company Bank Financial Corporation Otkritie (Otkritie) is deemed by the GoR to be a systemically important Russian state-owned credit institution and is Russiaʼs seventh largest financial institution. Otkritie was designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR, and for operating or having operated in the financial services sector of the Russian Federation economy. In addition, 12 Otkritie subsidiaries were designated today pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Otkritie. The 12 Otkritie subsidiaries designated today include an insurance company, a bank, and other financial services companies in Russia and Cyprus. All entities owned 50 percent or more, directly or indirectly, by Otkritie are subject to blocking under E.O. 14024, even if not identified by OFAC. Open Joint Stock Company Sovcombank (Sovcombank) is the third largest privately owned financial institution in Russia by total assets, and Russiaʼs ninth largest bank overall. The GoR identifies it as a systemically important Russian financial institution. Sovcombank was designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy. In addition, 22 Sovcombank subsidiaries were designated today pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Sovcombank. The 22 Sovcombank subsidiaries designated today include a variety of financial services companies in Russia and Cyprus. All entities owned 50 percent or more, directly or indirectly, by Sovcombank are subject to blocking under E.O. 14024, even if not identified by OFAC. Joint Stock Commercial Bank Novikombank (Novikombank) is state-owned and among the 50 largest financial institutions in Russia. Novikombank primarily operates in the Russian defense sector and serves as the core financial institution for Russian defense company Rostec, which fully owns the bank. Novikombank was designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy. Prior to todayʼs action, Novikombank was subject to certain debt-related https://home.treasury.gov/news/press-releases/jy0608 5/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … restrictions pursuant to Directive 3 under E.O. 13662 but is now blocked. Novikombankʼs parent company, Rostec, remains subject to certain debt-related restrictions pursuant to Directive 3 under E.O. 13662. DEBT AND EQUIT Y PROHIB IT IONS AGAINST MAJOR STAT E-OW NED AND PRIVAT E ENT IT IES In a move to limit Russiaʼs ability to finance its invasion against Ukraine or other priorities of President Putin, OFAC expanded Russia-related debt and equity restrictions to additional key aspects of Russiaʼs economy. To implement this action, OFAC issued Directive 3 under E.O. 14024, “Prohibitions Related to New Debt and Equity of Certain Russia-related Entities” (the “Russia-related Entities Directive”) to prohibit transactions and dealings by U.S. persons or within the United States in new debt of longer than 14 days maturity and new equity of Russian state-owned enterprises, entities that operate in the financial services sector of the Russian Federation economy, and other entities determined to be subject to the prohibitions in this directive. These 13 major firms, which are listed in Annex 1 to the Russia-related Entities Directive, include companies critical to the Russian economy and six of Russiaʼs largest financial institutions. They are now heavily restricted from raising money through the U.S. market — a key source of capital and revenue generation, which limits the Kremlinʼs ability to raise money for its malign activity — including to support the further invasion of Ukraine. Todayʼs action pursuant to the Russia-related Entities Directive further expands the number of Russian entities subject to prohibitions related to new debt and equity. This includes 13 entities with outstanding debt issuances, six of which are also subject to certain debt or additional restrictions pursuant to directives under E.O. 13662. Pursuant to E.O. 14024, OFAC identified the following 11 Russian entities as being owned or controlled by, or having acted or purposed to act for or on behalf of, directly or indirectly, the GoR: Sberbank is Russiaʼs largest financial institution. Today, Sberbank was also identified as subject to the Russia-related CAPTA Directive. Gazprombank Joint Stock Company is Russiaʼs third-largest financial institution and is closely a iliated with the energy sector. https://home.treasury.gov/news/press-releases/jy0608 6/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … Joint Stock Company Russian Agricultural Bank is Russiaʼs fi h-largest financial institution and closely a iliated with the agricultural sector. Public Joint Stock Company Gazprom is the worldʼs largest natural gas company. Public Joint Stock Company Gazprom Ne is one of Russiaʼs largest oil producers and refiners. Public Joint Stock Company Transne (Transne ) manages Russiaʼs network of petroleum-related pipelines. Public Joint Stock Company Rostelecom is Russiaʼs largest telecommunications company. Public Joint Stock Company RusHydro is a hydroelectricity company and one of Russiaʼs largest power companies. Public Joint Stock Company Alrosa is the worldʼs largest diamond mining company, responsible for 90 percent of Russiaʼs diamond mining capacity, which accounts for 28 percent globally. Joint Stock Company Sovcomflot is Russiaʼs largest maritime and freight shipping company. Open Joint Stock Company Russian Railways is one of the worldʼs largest railroad companies. Pursuant to E.O. 14024, OFAC identified the following three Russian entities for operating or having operated in the financial services sector of the Russian Federation economy: Joint Stock Company Alfa-Bank is Russiaʼs largest privately owned financial institution, and Russiaʼs fourth-largest financial institution overall. Credit Bank of Moscow Public Joint Stock Company is Russiaʼs largest non-state public bank and Russiaʼs sixth-largest financial institution. Sberbank, which is described above. GENERAL LICENSES To ensure that these sanctions and prohibitions have an impact on the intended targets and to minimize unintended consequences on third parties, OFAC has also issued several general licenses in connection with these actions. In particular, payments for energy are from production to consumption. The sanctions and license package has been constructed to https://home.treasury.gov/news/press-releases/jy0608 7/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … account for the challenges high energy prices pose to average citizens and doesnʼt prevent banks from processing payments for them. Specifically, OFAC issued eight general licenses authorizing certain transactions related to: international organizations and entities; agricultural and medical commodities and the COVID-19 pandemic; overflight and emergency landings; energy; dealings in certain debt or equity; derivative contracts; the wind down of transactions involving certain blocked persons; and the rejection of transactions involving certain blocked persons. To provide further guidance on these authorizations and todayʼs action, OFAC also issued extensive public guidance in the form of Frequently Asked Questions (FAQs). NEW ACT IONS TARGET ING RUSSIAN ELIT ES Families Close to Putin Elites close to Putin continue to leverage their proximity to the Russian President to pillage the Russian state, enrich themselves, and elevate their family members into some of the highest positions of power in the country at the expense of the Russian people. Sanctioned oligarchs and powerful Russian elites have used family members to move assets and to conceal their immense wealth. The following designations target influential Russians in Putinʼs inner circle and in elite positions of power within the Russian state. Many of these individuals are believed to participate in, or benefit from, the Russian regimeʼs kleptocracy, along with their family members. Many serve in leadership roles of companies designated or identified today. Sergei Sergeevich Ivanov, son of Sergei Borisovich Ivanov Sergei Borisovich Ivanov (Sergei B. Ivanov) is the Special Presidential Representative for Environmental Protection, Ecology, and Transport. Sergei B. Ivanov is reportedly one of Putinʼs closest allies and previously served as the Chief of Sta of the Presidential Executive O ice, Deputy Prime Minister, and Defense Minister of Russia. He is also a permanent member of the Security Council of the Russian Federation. Sergei B. Ivanov was previously designated https://home.treasury.gov/news/press-releases/jy0608 8/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … in March 2014 for being an o icial of the GoR. Sergei Ivanovʼs son, Sergei Sergeevich Ivanov (Sergei S. Ivanov), is the current CEO of Russian state-owned diamond mining company Alrosa and a board member of Gazprombank. OFAC redesignated Sergei B. Ivanov and designated his son Sergei S. Ivanov pursuant to E.O. 14024 for being or having been leaders, o icials, senior executive o icers, or members of the board of directors of the GoR. Sergei S. Ivanov was also designated pursuant to E.O. 14024 for being the spouse or adult child of Sergei B. Ivanov, a person whose property or interests in property are blocked for being or having been a leader, o icial, senior executive o icer, or member of the board of directors of the GoR. Andrey Patrushev, son of Nikolai Platonovich Patrushev Nikolai Platonovich Patrushev (Nikolai Patrushev) is the Secretary of the Russian Federation Security Council and is reported to be a longtime close associate of Putin. Nikolai Patrushev was previously designated in April 2018 for being an o icial of the GoR. Patrushevʼs son, Andrey Patrushev, served in leadership roles at Gazprom Ne and is employed in Russiaʼs energy sector. OFAC redesignated Nikolai Patrushev and designated his son Andrey Patrushev pursuant to E.O. 14024 for being or having been leaders, o icials, senior executive o icers, or members of the board of directors of the GoR. Andrey Patrushev was also designated pursuant to E.O. 14024 for being the spouse or adult child of Nikolai Patrushev, a person whose property or interests in property are blocked for being or having been a leader, o icial, senior executive o icer, or member of the board of directors of the GoR. Ivan Igorevich Sechin, son of Igor Ivanovich Sechin Igor Ivanovich Sechin (Igor Sechin) is the Chief Executive O icer (CEO), Chairman of the Management Board, and Deputy Chairman of the Board of Directors of Rosne , one of the worldʼs largest publicly traded oil companies. Igor Sechin was formerly the Deputy Prime Minister of the Russian Federation from 2008 until 2012 and is reportedly a close ally of Putin. Igor Sechin was previously designated in April 2014 pursuant to E.O. 13661 for being an o icial of the GoR. Igor Sechinʼs son, Ivan Igorevich Sechin (Ivan Sechin), is reportedly a deputy head of a department at Rosne . OFAC redesignated Igor Sechin pursuant to E.O. 14024 for being or having been a leader, o icial, senior executive o icer, or member of the board of directors of the GoR. Ivan Sechin was designated pursuant to E.O. 14024 for being the spouse or adult child of Igor Sechin, a https://home.treasury.gov/news/press-releases/jy0608 9/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … person whose property or interests in property are blocked for being or having been a leader, o icial, senior executive o icer, or member of the board of directors of the GoR. Financial Sector Elites Senior executives at state-owned banks, like Kremlin-linked elites, take advantage of their closeness to the Russian power vertical to advance the interests of the Russian state while maintaining an extravagant standard of living. Alexander Aleksandrovich Vedyakhin (Vedyakhin) is First Deputy Chairman of the Executive Board of Sberbank. OFAC designated Vedyakhin pursuant to E.O. 14024 for being or having been a leader, o icial, senior executive o icer, or member of the board of directors of the GoR. Andrey Sergeyevich Puchkov (Puchkov) and Yuriy Alekseyevich Soloviev (Soloviev) are two high-ranking VTB Bank executives who work closely with VTB Bank chief executive Andrei Kostin, whom OFAC designated in April 2018 pursuant to E.O. 13661. Puchkov also has other business interests beyond VTB, including Moscow-based real estate companies Limited Liability Company Atlant S and Limited Liability Company Inspira Invest A. Solovievʼs wife, Galina Olegovna Ulyutina (Ulyutina), was previously implicated in a golden passport scheme. OFAC designated Puchkov and Soloviev pursuant to E.O. 14024 for being or having been leaders, o icials, senior executive o icers, or members of the board of directors of the GoR. Limited Liability Company Atlant S and Limited Liability Company Inspira Invest A were designated pursuant to E.O. 14024 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Puchkov. Ulyutina was designated pursuant to E.O. 14024 for being the spouse or adult child of Soloviev, a person whose property and interests in property are blocked pursuant to E.O. 14024. For identifying information on the individuals and entities sanctioned today, click here. For Treasuryʼs concurrent designation of critical Belarusian state-owned banks, defense firms, and regime-connected individuals, click here. For the White House fact sheet about the Biden Administrationʼs actions today, click here. ### https://home.treasury.gov/news/press-releases/jy0608 10/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … Subsidiaries of Russian Financial Institutions Sanctioned on February 24, 2022Pursuant to E.O. 14024 The following Sberbank subsidiaries are subject to the Russia-related CAPTA Directive: 1. Subsidiary Bank Sberbank of Russia Joint Stock Company is a bank located in Kazakhstan. 2. Joint Stock Company Sberbank is a bank located in Ukraine. 3. Open Joint Stock Company BPS-Sberbank is a bank located Belarus. 4. IKS Joint Stock Company is a real estate, security brokering, fund management, depository credit intermediation, as well as other activities auxiliary to financial intermediation, company located in Russia. 5. Joint Stock Company Sberbank Leasing is a bank located in Russia. 6. Limited Liability Company Sberbank Capital is a mutual and pension fund or trust located in Russia. 7. Joint Stock Company Sberbank Automated Trade System is a vendor of financial securities on electronic trading platforms located in Russia. 8. Limited Liability Company Promising Investments is a financial company located in Russia. 9. Limited Liability Company Sberbank Financial Company is a financial company located in Russia. 10. Limited Liability Company Sberbank Investments is a financial company located in Russia. 11. Sberbank Europe AG is a bank located in Austria. 12. Insurance Company Sberbank Life Insurance Limited Liability Company is an insurance company located in Russia. 13. SB Securities SA is a mutual and pension fund or trust located in Luxembourg. 14. Joint Stock Company Sberbank Private Pension Fund is a mutual and pension fund or trust located in Russia. 15. Limited Liability Company Sberbank Insurance Broker is a financial and insurance company located in Russia. 16. Insurance Company Sberbank Insurance Limited Liability Company is an insurance company located in Russia. https://home.treasury.gov/news/press-releases/jy0608 11/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … 17. Limited Liability Company Sberbank CIB Holding is a financial company located in Russia. 18. Limited Liability Company Sberbank Factoring is a financial company located in Russia 19. Joint Stock Company Raschetniye Resheniya is a bank located in Russia. 20. Vydayushchiesya Kredity Microcredit Company Limited Liability Company is a financial and insurance company in Russia. 21. Tekhnologii Kreditovaniya Limited Liability Company is an Internet-based financial activities company located in Russia. 22. Arimero Holding Limited is a financial, insurance, and holding company located in Cyprus. 23. Setelem Bank Limited Liability Company is a bank located in Russia. 24. Limited Liability Company Yoomoney is a bank located in Russia. 25. Limited Liability Company Market Fund Administration is a mutual and pension fund or trust located in Russia. The property and interests in property of the following VTB Bank subsidiaries are blocked: 1. BM Bank Joint Stock Company is a bank located in Russia. 2. VTB Capital Holding Closed Joint Stock Company is a holding company located in Russia. 3. NPF VTB Pension Fund Joint Stock Company is a non-state pension fund company located in Russia. 4. VTB Factoring Limited is a finance and factoring company located in Russia. 5. Bank VTB Kazakhstan Joint Stock Company is a bank located in Kazakhstan. 6. VTB Bank Armenia Closed Joint Stock Company is a bank located in Armenia. 7. VTB Bank Azerbaijan Open Joint Stock Company is a bank located in Azerbaijan. 8. VTB Bank Belarus Closed Joint Stock Company is a bank located in Belarus. 9. VTB Bank Georgia Joint Stock Company is a bank located in Georgia. 10. Banco VTB Africa SA is a bank located in Angola. 11. VTB Specialized Depository Closed Joint Stock Company is an intermediation and financial company located in Russia. 12. VTB Pension Administrator Limited is a holding company located in Russia. https://home.treasury.gov/news/press-releases/jy0608 12/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … 13. Limited Liability Company VTB DC is a financial and management consulting company located in Russia. 14. VTB Registrar Closed Joint Stock Company is a financial company located in Russia. 15. Business Finance Limited Liability Company is a security brokerage and financial leasing company located in Russia. 16. West Siberian Commercial Bank Public Joint Stock Company is a bank located in Russia. 17. Joint-Stock Company Sarovbusinessbank is a bank located in Russia. 18. Vietnam-Russia Joint Venture Bank is a bank located in Vietnam. 19. VTB Bank Europe SE is a bank located in Germany. 20. Obshchestvo S Ogranichennoi Otvetstvennostyu VTB Foreks is a financial company located in Russia. The property and interests in property of the following Otkritie subsidiaries are blocked: 1. Public Joint Stock Company Insurance Company Rosgosstrakh is an insurance company located in Russia. 2. Otkritie Ltd Group is a financial company located in Cyprus. 3. OOO Navigator Asset Management is a financial company located in Russia. 4. OOO Otkritie Asset Management is a financial company located in Russia. 5. Otkritie Broker Group is a financial company located in Russia. 6. OOO Tamozhennaya Karta is a financial company located in Russia. 7. OOO Otkritie Factoring is a financial company located in Russia. 8. OOO RGS Holding is a financial company located in Russia. 9. OOO Otkritie Capital is a financial company located in Russia. 10. Otkritie Capital Cyprus Limited is a financial company located in Cyprus. 11. NPF Otkritie Group is a non-state pension fund located in Russia. 12. PAO Rosgosstrakh Bank is a bank located in Russia. The property and interests in property of the following Sovcombank subsidiaries are blocked: https://home.treasury.gov/news/press-releases/jy0608 13/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … 1. Aktsionernoe Obshchestvo Fintender is a financial technology company located in Russia. 2. Bank National Factoring Company Joint Stock Company is a financial institution located in Russia. 3. Sovcombank Factoring Limited Liability Company is a financial company located in Russia. 4. BEST2PAY Limited is a financial company located in Russia. 5. GMCS Management Limited Liability Company is a financial management company located in Russia. 6. Septem Capital Limited Liability Company is an investment company located in Russia. 7. Joint Stock Company Sovcombank Life is an insurance company located in Russia. 8. Limited Liability Company Ozon Bank is a financial institution located in Russia. 9. Mobilnye Platezhi Limited Liability Company is a financial technology company located in Russia. 10. Ruskonsalt is a company located in Russia. 11. Sollers-Finance Limited Liability Company is a financial company located in Russia. 12. Sovcombank Asset Management Limited Liability Company is a financial management company located in Russia. 13. Sovcombank Securities Limited is a financial company located in Cyprus. 14. Sovcombank Technologies Limited Liability Company is a financial technology company located in Russia. 15. Sovkom Faktoring is a company located in Russia. 16. Sovkom Lizing is a leasing company located in Russia. 17. Sovcomcard Limited Liability Company is a financial company located in Russia. 18. Tsifrovye Tekhnologii Budushchego Limited Liability Company is a financial technology company located in Russia. 19. USM Limited Liability Company is a financial company located in Russia. 20. Aktsionernoe Obshchestvo Sovkombank Strakhovanie is a financial company located in Russia. 21. Public Joint Stock Company KB Vostochny is a financial company located in Russia. 22. Aktsionernoe Obshchestvo Rts-Kholding is a financial management company located in Russia. https://home.treasury.gov/news/press-releases/jy0608 14/15 2/25/2022 U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic … https://home.treasury.gov/news/press-releases/jy0608 15/15
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