Financial sanctions, Russia

The Office of Financial Sanctions Implementation (OFSI) has published a new Financial Sanctions Notice regarding sanctions measures with respect to persons and entities involved in or supportive of Russia’s action to destabilize Ukraine and threatening the sovereignty and independence of the country pursuant to Statutory Instrument SI 2019/855, the „Russia (Sanctions) (EU Exit) Regulations 2019“. Specifically, the OFSI informs that it has updated its sanction list by modifying the records of two individuals on the list which remain subject to asset freezing measures.
#### The records of the following persons were amended as follows:
SHARONOV, Andrey Vladimirovich
Position: Vice President at Sberbank Other Information: (UK Sanctions List
Ref):RUS1599. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons): Andrey Vladimirovich Sharonov is an “involved person” under the Russia (Sanctions) (EU Exit) Regulation 2019 because he has been, and is, involved in obtaining a benefit from or supporting the Government of Russia by: (1) working as a manager or equivalent of a person (other than an individual) which is carrying on business in a sector of strategic significance to the Government of Russia, namely SBERBANK which carries on business in the financial services sector;  (2) she has been, and is, involved in obtaining a benefit from or supporting the Government of Russia by working as a director, manager or equivalent of a Government of Russia-affiliated entity, namely SBERBANK (the Government of Russia directly holds more than 50% of the shares in SBERBANK and/or more than 50% of the voting rights in SBERBANK). Andrey Vladimirovich Sharonov is an “involved person” under the Russia (Sanctions) (EU Exit) Regulations 2019 because he has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent for SOVCOMFLOT, which is carrying on business in sectors of strategic significance to the Government of Russia, namely the Russian transport and energy sectors. (Gender):Male Listed on: 26/09/2022 UK Sanctions List Date Designated: 26/09/2022 Last Updated: 21/03/2023 28/07/2023 Group ID: 15543.
TENENBAUM, Eugene
DOB: –/09/1964. POB: Ukraine Nationality: Canada Other Information: (UK Sanctions List Ref):RUS1338. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons):Eugene TENENBAUM is associated with Roman Abramovich. Roman Abramovich is an involved person under the Russia (Sanctions) (EU Exit) Regulation 2019. Eugene TENENBAUM is an involved person under the Russia (EU Exit) (Sanctions) Regulations 2019 on the basis of the following grounds: (1) TENENBAUM is associated with an involved person, namely Roman Arkadyevich Abramovich; (2) TENENBAUM has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of an entity which is carrying on business in sectors of strategic significance to the Government of Russia, namely the Russian extractives, transport and construction sectors. (Gender):Male Listed on: 14/04/2022 UK Sanctions List Date Designated: 14/04/2022 Last Updated: 21/03/2023 28/07/2023 Group ID: 15281.
The new consolidated Russia sanctions list may be accessed via this link.