Published On: Thu, Aug 14th, 2014

New, Longer Reach For US Sanctions Could Slap Russian Billionaire Rotenberg

Billionaire Arkady Rotenberg (R) with Russian President Vladimir Putin

The rules have changed for U.S. sanctions, and they have now reached warp factor draconian for many companies and investors. Now companies that are even partially owned by controversial figures could find themselves on the black list. The U.S. Treasury now has the authority to sanction any company that has a blacklisted person or group that owns a 50% stake. This creates new implications for organizations that could be affected by U.S. sanctions.

Gennady Timchenko and Boris and Arkady Rotenberg, Russian billionaires sanctioned by the U.S., could face complications, even if each stakeholder has only a 25% holding. Their associated companies will face stiff penalties under the new rules.

In addition, U.S. sanctions against Russia have broadened to include energy and defense companies as a punishment for Russia’s incursions into the Ukraine.

Read more about: , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems