Continuing to Counter Putin's War; The U.S. and Canada Sanction Dozens of Russian Individuals and Entities

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned 18 individuals and dozens of entities on Thursday, June 20, to cut off Putin's access to military production for the ongoing occupation of Ukraine. According to OFAC's statement, the sanctions aim to reduce Russia's revenues from metals and the mining sector, weaken its future energy capabilities, limit Moscow's access to the international financial system, and disrupt its technology suppliers and developers. The statement adds that the sanctions imposed on Thursday are part of the further implementation of commitments made by G7 leaders on February 24 and May 19 of this year. According to Wally Adeyemo, U.S. Deputy Secretary of the Treasury, "Today's actions represent another step in our efforts to curb Russia's military capabilities, its access to equipment on the battlefield, and its economic balance sheet." Alongside a relatively long list of Russian companies active in technology, scientific, and military fields, as well as Russian banks and financial institutions sanctioned by the U.S. on Thursday, companies from Kyrgyzstan and the United Arab Emirates are also mentioned. Additionally, one of the 18 sanctioned individuals holds North Korean citizenship, while the others are Russian nationals. Following OFAC's sanctions on Thursday, all assets and properties of the sanctioned individuals in the U.S. or owned by U.S. citizens will be blocked and must be reported to OFAC. Any entity that is directly or indirectly at least 50% owned by any of the sanctioned individuals will also be blocked. Canada also imposed sanctions on Thursday, in line with the United States, sanctioning 39 individuals and 25 Russian entities to counter Putin's aggression against Ukraine. According to Melanie Joly, Canada's Foreign Minister, senior commanders of the Wagner mercenaries are among those sanctioned by the Canadian government.