US control of Russian businessmen expansion of sanctions

The United States expanded sanctions against Russia, as there were concerns that Russian businessmen would be able to continue to control foreign companies transferred to other owners. The expansion of the sanctions list does not at all indicate an escalation of the conflict with Russia. It’s just that the US authorities have serious doubts whether Russian businessmen have really transferred control to others over their companies.

Significant changes have occurred in the ownership structure of Airfix Aviation Oy, IPP Oil Products and Oy Langvik Capital. Businessmen Gennady Timchenko, Arkady and Boris Rotenberg, who were on the sanctions list, have sold their stakes in the past eighteen months. They explained this by strategic necessity or by their personal decision that was made long ago.

The US authorities have added to the sanctions list those individuals who are involved in schemes to circumvent earlier sanctions against Russia. The list included eleven individuals and fifteen legal entities. Among them are relatives and business partners of Gennady Timchenko and Boris Rotenberg.