US imposes further sanctions on 37 entities involved in expanding Russia’s energy production

The US is imposing sanctions on 37 entities involved in expanding Russia’s energy production and future export capacity and has identified two related vessels as blocked property. According to the US State Department, the designations include entities and individuals involved in the development of key energy projects and associated infrastructure, including Russia’s Arctic LNG 2 liquified natural gas project. It further includes entities involved in the procurement of materials and advanced technology for future energy projects for which Russia has historically relied on foreign service companies’ expertise and technology. The US State Department has designated individuals and entities to impose further costs in response to Russia’s unprovoked war against Ukraine. Along with the entities involved in Russia’s Arctic LNG 2 liquified natural gas project, the state has designated two Turkiye-based entities for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of persons whose property and interests in property are blocked pursuant, according to the statement. Moreover, the services included the provision of dry dock, ship repair, and ship agency services to vessels that have been blocked as property of entities operating or having operated in the defense and related material sector of the Russian Federation economy. These Turkish companies include Denkar Ship Construction Incorporated Company and ID Ship Agency Trade Limited Company. According to the statement, the US has also designated Pavel Pavlovich Shevelin who is affiliated with the paramilitary Wagner Group. Shevelin was also involved in facilitating munitions shipment from the Democratic People’s Republic of Korea (DPRK) to the Russia. The US State Department has also designated multiple defence entities that provides repair and maintenance services to the Russian defence sector to facilitate its illegal war against Ukraine. Moreover, “these designations reaffirm our efforts to degrade Russia’s ability to replenish its sustained battlefield losses of aircraft, tanks, armored vehicles, munitions, and other weapons systems,” the statement added. As per the statement, all property and interests owned by the designated persons that are in the US or in possession or control of US persons are blocked. Moreover, they should be reported to the Department of Treasury’s Office of Foreign Assets Control (OFAC). “Additionally, all individuals or entities that have ownership, either directly or indirectly, 50 percent or more by one or more blocked persons are also blocked,” the statement added. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person. Earlier on Thursday, US warned of more sanctions on Russia and North Korea as Kim Jong Un arrived in Moscow to meet President Vladimir Putin recently, giving rise to the concerns of a possible arms deal between the two countries, which has remained the talk of the town for quite sometime now.