The United States imposed sanctions on "Tinkoff" and several other credit institutions from Russia, Spot.uz has reported.
On June 20, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) implemented blocking sanctions against five Russian banks. Besides Oleg Tinkov's former bank, the sanctioned banks include "Solidarnost," Loko-Bank, "Unistream," and the St. Petersburg PSKB.
These credit organizations were added to the SDN list, subjecting them to the strictest blocking restrictions. American individuals and entities are prohibited from conducting any business with the sanctioned banks and their subsidiaries. Furthermore, all assets of these banks and their affiliated structures will be frozen. As a result of the sanctions, "Tinkoff" advised its overseas clients to withdraw cash, and the bank also announced the discontinuation of UnionPay card services abroad starting July 21.
The sanctions also affected two subsidiaries of the Ural Mining and Metallurgical Company, one of Russia's major copper producers. The impacted entities are "Uralelectromed," a supplier of copper cathodes, and the "UGMK-OCM" division, which manufactures products from non-ferrous metals.
Forbes Russia recently reported that Danear Abdulazizovich Kamilov, the son of Uzbekistan's former Foreign Minister, became the beneficial owner of UGMK and acquired stakes in other enterprises owned by Iskander Mahmudov.
In addition to these measures, the U.S. Department of the Treasury also imposed restrictions on four Kyrgyzstan-based companies: RM Design and Development, "GTM Technologies," "Progress Leader," and "Kargolain." All of these legal entities were established after the start of the conflict in Ukraine.
According to the U.S. Treasury, since the full-scale invasion of Ukraine, companies located in Kyrgyzstan have frequently exported controlled electronic components and other technologies to Russia. Some of these shipments have included sensitive dual-use goods destined for Russian defense enterprises.
In total, there are five Kyrgyzstan-based enterprises currently under American sanctions.
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