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US Treasury Sanctions Target Russian Military Procurement Network; Janet Yellen Quoted

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The Department of the Treasury has imposed sanctions on 28 entities and 14 individuals for their involvement in a network that buys microelectronics in support of Russia’s military industry and association with two elites that have ties to the Russian government.

The Treasury said Monday the office of foreign assets control also designated as blocked property eight aircraft operated by a luxury aviation company with links to Suleiman Abusaidovich Kerimov, who was sanctioned in September for being a Russian government official.

“The United States will continue to expose and disrupt the Kremlin’s military supply chains and deny Russia the equipment and technology it needs to wage its illegal war against Ukraine,” said Treasury Secretary Janet Yellen.

“Today’s actions demonstrate Treasury’s steadfast commitment to targeting people around the world aiding Putin’s war effort and the crony elites who bankroll his regime,” added Yellen.

OFAC sanctioned immediate family members of Kerimov, a Swiss national – Alexander-Walter Studhalter – who has played a key role in Kerimov’s financial network and eight entities with ties to the Swiss national.

Russian businessman Murat Magomedovich Aliev with links to Studhalter was also sanctioned, along with five companies related to Aliev.