The U.S. Treasury has imposed sanctions against six enterprises and five vessels associated with Alfa-Bank. This is stated in a notice posted on the website of the U.S. department on Wednesday.
The list, in particular, includes three companies from the Russian Federation: Alfa-Direct, Alfa-Forex and Alfa-Leasing. In addition, sanctions have been imposed against three Alfa-Bank-affiliated organizations registered in the Netherlands, Kazakhstan and Cyprus.
Five vessels associated with Alfa-Leasing are also blacklisted.
The U.S. Treasury also imposed sanctions against 42 enterprises associated with Sberbank.
“The Ministry of Finance adds 42 subsidiaries of Sberbank to the [sanctions] list,” the document says.
In addition, it notes that “all legal entities owned by Sberbank by 50 percent or more, both directly and indirectly, are blocked.”..> even if they are not listed in the OFAC” (Office of Foreign Assets Control of the U.S. Treasury Department).
Deadline for completion of transactions
The U.S. Treasury Department has set a deadline for completing transactions with Alfa-Bank until May 6, with Sberbank – until April 13, with its division in the USA Sberbank CIB USA, Inc. – until June 7, according to the general licenses of the financial department.
They note that transactions “that are carried out in the usual manner and are necessary for the gradual winding down of transactions” by Alfa-Bank, Sberbank, Sberbank CIB USA, Inc., as well as any other organizations in which the listed financial institutions own a share of 50% or higher, are allowed until 00:01 Eastern time the coast of the USA on May 6, April 13 and June 7, 2022, respectively. At the same time, the American division of Sberbank is allowed until the end of this period “registration and payment of wages, severance payments and expenses, settlements with suppliers and landlords and closing of accounts.”
In addition, the U.S. department allowed transactions with Sberbank and Alfa-Bank within the framework of the purchase of Russian energy carriers until June 24, until May 25 for Sberbank and until June 30 for Alfa-Bank – transactions related to transactions with certain debt obligations, shares and production contracts.