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US sanctions Russian ‘Silicon Valley’

Washington on Tuesday introduced a brand new spherical of embargoes focusing on Russia’s finance and expertise sectors, particularly the semiconductor business. Among the entities sanctioned by the State Department are the Skolkovo expertise park outdoors Moscow – Russia’s equal of Silicon Valley – and MMK, one of many world’s largest metal producers.

The Skolkovo Foundation, Technopark Skolkovo LLC and the Skolkovo Institute of Science and Technology (Skoltech) discovered themselves blacklisted for “operating or having operated in the technology sector of the Russian Federation economy.”

Also focused by the State Department sanctions was the Moscow Institute of Physics and Technology (MFTI), for “operating or having operated in the defense and related materiel sector,” particularly creating drones to be used by the Russian army.

The Treasury Department stated the brand new US sanctions had been focusing on “Kremlin-connected elites, a major multinational company, and a sanctions evasion operation, as well as one yacht.” The embargoed “elites” and companies function in “economic sectors that generate substantial revenue for the Russian regime,” the Treasury stated.

The sanctioned yacht is Alfa Nero, a Cayman Islands-flagged ship belonging to the newly sanctioned Andrey Guryev. He is the founding father of PhosAgro, the main Russian producer of chemical fertilizer. The firm itself has not been sanctioned, the Treasury hastened to notice. 

Alfa Nerohas reportedly shut off its location tracking hardware in order to avoid seizure,” the US authorities added.

Among the 13 people and 30 entities sanctioned on Tuesday is Viktor Rashnikov, majority proprietor and chairman of the board of MMK, together with the Magnitogorsk-based steel-maker itself. MMK’s finance division and the Turkish-based MMK Metalurji subsidiary had been additionally embargoed. Americans who’ve open enterprise with MMK have till September 1 to wrap it up, and till October three to divest any money owed. The deadline for coping with the Turkish firm is January 31, 2023.

The most notable title on the record of “elites” allegedly near the Kremlin is Alina Kabaeva. The retired rhythmic gymnast and former lawmaker was sanctioned for having been a authorities official, having a “close relationship” to President Vladimir Putin, and being the top of the National Media Group, “a pro-Kremlin empire of television, radio, and print organizations.”

Back in 2015, British tabloids unfold the rumor that Kabaeva was Putin’s secret lover, after the Russian president was not seen in public for over every week – having been on vacation.


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