US TARGETS RUSSIAN FIRMS AMID GROWING CONCERN AROUND UNDERSEA CABLES AND DESIGNATES 6 RUSSIAN SHIPS

The Wall Street Journal Risk & Compliance Report on 22 August reported that those designated had allegedly aided an evasion effort by Russian firm, Divetechnoservices, which had helped improve Russia’s cyber and underwater capabilities by procuring undersea equipment and diving systems for Russian government agencies.  Undersea cables carry nearly all global internet traffic and financial transactions. A significant disruption of the service carried by the cables could have a catastrophic effect on global business and markets.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180821.aspx

https://home.treasury.gov/news/press-releases/sm462

OFAC ALSO DESIGNATES 6 RUSSIAN-FLAGGED VESSELS

Bella, Bogatyr, Neptun, Partizan, Patriot and Sevastopol were designated on 21 August.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180821.aspx

https://home.treasury.gov/news/press-releases/sm463

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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