The United States has imposed new sanctions targeting companies and individuals aiding Russia's defense industry, with Uzbek companies Uzstanex and The Elite Investment Group included in the latest round.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions on a total of 275 entities and individuals linked to Russia's military operations, extending to businesses in Central Asia, China, Turkey, India, Switzerland, Greece, and Chile.
The U.S. State Department alleges that The Elite Investment Group supplied goods to Russia-based GTS Group, a sanctioned company, between March and May 2024. Specifically, the company is accused of exporting approximately $190,000 worth of dual-use goods, including electrical transformers. The shipments reportedly involved Turkish shipping agent Guclu Global as an intermediary.
GTS Group is a known supplier of industrial equipment, automatic control systems, and electrical devices in Russia. These items fall under the U.S. Common High-Priority List (CHPL) and are categorized as dual-use goods due to their civilian and military applications, which makes their export subject to stringent international regulations.
Uzstanex, established in 2018, operates in the mechanical machinery trade sector with a registered capital of UZS 65mn ($5,098). Based in Tashkent's Yashnabad district, the company is solely owned by Vasily Abramov.
The Elite Investment Group, founded in January 2024, specializes in wholesale non-specialized trade. This company, headquartered in the Yangiyul district of Tashkent, is owned and led by Nodira Kazakbaeva.
The Treasury Department’s recent sanctions list includes citizens from the following countries: 20 from Russia, two from China, four from Turkey, two from India, two from Switzerland, one from Greece, and one from Chile. The measures target firms and individuals accused of facilitating the flow of resources and technology to Russia’s defense sector.
In a statement, U.S. Deputy Treasury Secretary Wally Adeyemo stressed the importance of curbing support for Russia's defense infrastructure:
"The United States and our allies will continue to take decisive action around the world to stop the flow of critical tools and technology that Russia is using to wage its illegal and immoral war against Ukraine.”
This announcement is part of a coordinated effort by the United States, its allies, and partners to inhibit Russia's access to goods and resources that could bolster its military activities in Ukraine. The sanctions not only impact Uzbek companies but also extend to businesses across other key regions that the U.S. suspects of aiding the Russian military sector.
The U.S. government stated that it would continue monitoring supply chains globally, with an emphasis on dual-use items that have the potential to support Russia's military operations.
In August, the U.S. included Intheme Lab, a Russian company based in Tashkent's IT Park, on its latest sanctions list. Earlier in 2023, the U.S. Department of Commerce had already imposed sanctions on Mvizion, another company registered in Uzbekistan.
These anti-Russian sanctions have prompted a renewed effort to establish new economic partnerships between Russia and Central Asian nations, attracting interest from key players across Asia and Europe. As a result, there is a growing focus on the Russian market, with some production activities shifting to Central Asia and industrial operations expanding in the region. This trend is fueled by geographical advantages and an increasing young labor force.
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