The U.S. Sanctions Spree: A Masterclass in Global Bullying

The ‎recent‏ ‎actions by ‎the ‎U.S. ‎Department ‎of‏ ‎the ‎Treasury’s‏ ‎Office‏ ‎of ‎Foreign ‎Assets‏ ‎Control ‎(OFAC)‏ ‎on ‎June ‎12, ‎2024,‏ ‎reflect‏ ‎a ‎desperate‏ ‎attempt ‎by‏ ‎a ‎once-dominant ‎global ‎power ‎to‏ ‎maintain‏ ‎its ‎waning‏ ‎influence. ‎U.S.‏ ‎is ‎in ‎a ‎manic ‎panic,‏ ‎flailing‏ ‎about‏ ‎with ‎new‏ ‎sanctions ‎in‏ ‎a ‎futile‏ ‎attempt‏ ‎to ‎regain‏ ‎control ‎and ‎influence. ‎It’s ‎a‏ ‎classic ‎case‏ ‎of‏ ‎a ‎lost ‎hegemon‏ ‎trying ‎to‏ ‎assert ‎dominance ‎through ‎increasingly‏ ‎desperate‏ ‎measures.

📌Russia-related ‎Designations:‏ ‎The ‎U.S.‏ ‎has ‎added ‎more ‎names ‎to‏ ‎its‏ ‎ever-growing ‎list‏ ‎of ‎sanctioned‏ ‎Russian ‎entities ‎and ‎individuals. ‎Because,‏ ‎you‏ ‎know,‏ ‎if ‎the‏ ‎first ‎4,000‏ ‎sanctions ‎didn’t‏ ‎work,‏ ‎surely ‎the‏ ‎next ‎300 ‎will ‎do ‎the‏ ‎trick.

📌Targeting ‎Chinese‏ ‎Firms: The‏ ‎U.S. ‎is ‎now‏ ‎going ‎after‏ ‎Chinese ‎companies ‎that ‎dare‏ ‎to‏ ‎do ‎business‏ ‎with ‎Russia.‏ ‎It’s ‎almost ‎as ‎if ‎the‏ ‎U.S.‏ ‎believes ‎that‏ ‎bullying ‎other‏ ‎countries ‎into ‎compliance ‎will ‎somehow‏ ‎restore‏ ‎its‏ ‎lost ‎hegemony.

📌Secondary‏ ‎Sanctions: Foreign ‎financial‏ ‎institutions ‎are‏ ‎now‏ ‎at ‎risk‏ ‎of ‎sanctions ‎if ‎they ‎deal‏ ‎with ‎any‏ ‎of‏ ‎the ‎newly ‎sanctioned‏ ‎Russian ‎entities.‏ ‎Because ‎nothing ‎says ‎«global‏ ‎leadership»‏ ‎like ‎threatening‏ ‎the ‎entire‏ ‎world’s ‎banking ‎system.

📌Expanding ‎Definitions: The ‎Treasury‏ ‎has‏ ‎broadened ‎the‏ ‎definition ‎of‏ ‎Russia’s ‎«military-industrial ‎base» ‎to ‎include‏ ‎just‏ ‎about‏ ‎anyone ‎and‏ ‎anything ‎remotely‏ ‎connected ‎to‏ ‎Russia.‏ ‎It’s ‎a‏ ‎classic ‎move: ‎when ‎in ‎doubt,‏ ‎just ‎make‏ ‎the‏ ‎net ‎wider.

📌Restricting ‎IT‏ ‎Services: The ‎U.S.‏ ‎is ‎restricting ‎the ‎supply‏ ‎of‏ ‎IT ‎services‏ ‎and ‎software‏ ‎to ‎Russia. ‎Because ‎clearly, ‎cutting‏ ‎off‏ ‎access ‎to‏ ‎Microsoft ‎Office‏ ‎will ‎bring ‎the ‎Russian ‎war‏ ‎machine‏ ‎to‏ ‎its ‎knees.

📌Global‏ ‎Networks: The ‎sanctions‏ ‎also ‎target‏ ‎transnational‏ ‎networks ‎in‏ ‎countries ‎like ‎China, ‎Turkey, ‎and‏ ‎the ‎UAE.‏ ‎It’s‏ ‎almost ‎as ‎if‏ ‎the ‎U.S.‏ ‎is ‎trying ‎to ‎pick‏ ‎a‏ ‎fight ‎with‏ ‎half ‎the‏ ‎world ‎at ‎once.

📌G7 ‎Summit: These ‎actions‏ ‎come‏ ‎just ‎in‏ ‎time ‎for‏ ‎the ‎G7 ‎summit, ‎where ‎world‏ ‎leaders‏ ‎will‏ ‎undoubtedly ‎pat‏ ‎themselves ‎on‏ ‎the ‎back‏ ‎for‏ ‎their ‎«tough‏ ‎stance» ‎on ‎Russia. ‎Meanwhile, ‎Russia‏ ‎continues ‎to‏ ‎adapt‏ ‎and ‎find ‎new‏ ‎ways ‎to‏ ‎circumvent ‎these ‎measures.

Affected ‎Industries:

📌Financial‏ ‎Services:‏ ‎Multiple ‎documents‏ ‎highlight ‎sanctions‏ ‎and ‎exemptions ‎related ‎to ‎financial‏ ‎transactions‏ ‎and ‎services.

📌Cyber‏ ‎Operations: Entities ‎involved‏ ‎in ‎cyber ‎activities ‎are ‎specifically‏ ‎targeted.

📌Humanitarian‏ ‎Aid:‏ ‎Exemptions ‎are‏ ‎provided ‎for‏ ‎transactions ‎related‏ ‎to‏ ‎humanitarian ‎aid.

📌Energy‏ ‎Sector: ‎Sanctions ‎target ‎entities ‎in‏ ‎the ‎energy‏ ‎industry.

📌Defense‏ ‎Sector: ‎Entities ‎in‏ ‎the ‎defense‏ ‎industry ‎are ‎affected ‎by‏ ‎the‏ ‎sanctions.

📌Maritime ‎Industry:‏ ‎Vessels ‎added‏ ‎to ‎the ‎SDN ‎List ‎indicate‏ ‎that‏ ‎the ‎maritime‏ ‎industry ‎is‏ ‎also ‎affected. ‎This ‎includes ‎shipping‏ ‎companies‏ ‎and‏ ‎operators ‎of‏ ‎vessels ‎that‏ ‎are ‎involved‏ ‎in‏ ‎activities ‎supporting‏ ‎sanctioned ‎entities ‎or ‎individuals

Full ‎list

These‏ ‎documents ‎collectively‏ ‎provide‏ ‎a ‎comprehensive ‎overview‏ ‎of ‎the‏ ‎recent ‎actions ‎taken ‎by‏ ‎OFAC‏ ‎in ‎relation‏ ‎to ‎Russia,‏ ‎including ‎designations, ‎general ‎licenses, ‎determinations,‏ ‎and‏ ‎guidance ‎on‏ ‎compliance.

Document ‎932921

• Russia-related‏ ‎Designations: ‎This ‎document ‎lists ‎individuals‏ ‎and‏ ‎entities‏ ‎designated ‎under‏ ‎the ‎Russia-related‏ ‎sanctions ‎program.
• Sanctions‏ ‎Criteria: It‏ ‎outlines ‎the‏ ‎criteria ‎for ‎these ‎designations, ‎including‏ ‎involvement ‎in‏ ‎destabilizing‏ ‎activities, ‎cyber ‎operations,‏ ‎and ‎support‏ ‎for ‎the ‎Russian ‎government.

Document‏ ‎932926

• General‏ ‎Licenses: ‎This‏ ‎document ‎details‏ ‎new ‎general ‎licenses ‎issued ‎by‏ ‎OFAC.‏ ‎These ‎licenses‏ ‎provide ‎exemptions‏ ‎for ‎certain ‎transactions ‎and ‎activities‏ ‎that‏ ‎would‏ ‎otherwise ‎be‏ ‎prohibited ‎under‏ ‎the ‎sanctions.
• Specific‏ ‎Transactions:‏ ‎It ‎specifies‏ ‎the ‎types ‎of ‎transactions ‎allowed‏ ‎under ‎these‏ ‎licenses,‏ ‎such ‎as ‎humanitarian‏ ‎aid ‎and‏ ‎certain ‎financial ‎services.

Document ‎932931

• Determination‏ ‎on‏ ‎Russian ‎Financial‏ ‎Sector: This ‎document‏ ‎contains ‎a ‎determination ‎related ‎to‏ ‎the‏ ‎Russian ‎financial‏ ‎sector, ‎outlining‏ ‎specific ‎actions ‎and ‎criteria ‎subject‏ ‎to‏ ‎sanctions.
• Implementation‏ ‎Guidance: ‎It‏ ‎provides ‎guidance‏ ‎on ‎how‏ ‎these‏ ‎determinations ‎will‏ ‎be ‎implemented ‎and ‎enforced.

Document ‎932936

• Updated‏ ‎FAQs: ‎This‏ ‎document‏ ‎includes ‎updated ‎Frequently‏ ‎Asked ‎Questions‏ ‎(FAQs) ‎to ‎provide ‎additional‏ ‎guidance‏ ‎on ‎the‏ ‎implementation ‎of‏ ‎Russia-related ‎sanctions.
• Compliance ‎Requirements: It ‎addresses ‎common‏ ‎queries‏ ‎and ‎clarifies‏ ‎compliance ‎requirements‏ ‎for ‎individuals ‎and ‎businesses ‎affected‏ ‎by‏ ‎the‏ ‎sanctions.

Document ‎932941

• Additional‏ ‎Designations: This ‎document‏ ‎lists ‎additional‏ ‎individuals‏ ‎and ‎entities‏ ‎designated ‎under ‎the ‎Russia-related ‎sanctions‏ ‎program.
• Rationale ‎for‏ ‎Designations: It‏ ‎explains ‎the ‎rationale‏ ‎behind ‎these‏ ‎designations, ‎focusing ‎on ‎their‏ ‎roles‏ ‎in ‎activities.

Document‏ ‎932946

• Sectoral ‎Sanctions:‏ ‎This ‎document ‎outlines ‎sectoral ‎sanctions‏ ‎targeting‏ ‎specific ‎sectors‏ ‎of ‎the‏ ‎Russian ‎economy, ‎such ‎as ‎energy,‏ ‎finance,‏ ‎and‏ ‎defense.
• Prohibited ‎Activities: It‏ ‎details ‎the‏ ‎specific ‎activities‏ ‎and‏ ‎transactions ‎that‏ ‎are ‎prohibited ‎under ‎these ‎sectoral‏ ‎sanctions.