By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
24x7Report24x7Report
  • Home
  • World News
  • Finance
  • Sports
  • Beauty
  • Fashion
  • Fitness
  • Gadgets
  • Travel
Search
© 2023 News.24x7report.com - All Rights Reserved.
Reading: US Puts Additional Central Asian Companies on Russia Sanctions List
Share
Notification Show More
Aa
24x7Report24x7Report
Aa
Search
  • Home
  • World News
  • Finance
  • Sports
  • Beauty
  • Fashion
  • Fitness
  • Gadgets
  • Travel
  • en English
    • en English
    • id Indonesian
    • ms Malay
    • es Spanish
Follow US
© 2023 News.24x7report.com - All Rights Reserved.
24x7Report > Blog > Finance > US Puts Additional Central Asian Companies on Russia Sanctions List
Finance

US Puts Additional Central Asian Companies on Russia Sanctions List

Last updated: 2024/02/28 at 1:14 PM
Share
7 Min Read
Hobbled Economic Prospects in Central Asia
SHARE

To mark the second anniversary of Russia’s full-scale invasion of Ukraine final week and the latest loss of life of Russia opposition politician Alexei Navalny, the U.S. Division of the Treasury’s Workplace of International Property Management announced sanctions on almost 300 individuals and entities.

Embedded in the list had been a handful of Central Asian corporations. The most recent spherical of sanctions designations included the Bishkek-based Obshchestvo S Ogranichennoy Otvetstvennostyu Ukon (Ukon). As Kloop reported, citing a Ministry of Justice database, Ukon was based in August 2022, six months after the launch of the Russian invasion of Ukraine, by Gafar-Zadeh Mehdi Fikret Oglu. Registration particulars be aware the corporate’s primary exercise as “wholesale non-specialized commerce.”

In response to the U.S. Treasury Division’s sanctions, Ukon “has despatched plane elements and U.S.-origin plane components in violation of U.S. export management laws to Russia-based end-users.”

The United Arab Emirates (UAE) firm PolarStar Logistics, which has branches within the UAE, Uzbekistan, and India, was additionally added to the sanctions checklist. The corporate, the U.S. Department of State said, “presents cargo delivery providers from the UAE to Russia” and is listed as a S7 Airways (Siberia Airways) consultant workplace. S7 Airways was added to the U.S. Division of Commerce’s Bureau of Business and Safety (BIS) “Entity Checklist” in June 2022 in an growth of aviation-related export controls and sanctions.

Two Kazakh corporations, Astana-based Da Group 22 and Almaty-based Elem Group had been additionally included within the checklist. Registration particulars for each corporations checklist them as being engaged within the commerce of digital and telecommunication tools and components. Da Group additionally, per registration data, produces circuit boards and Elem was moreover engaged in “forwarding providers.”

See also  Apple Considering Opening a Factory in Indonesia, CEO Says

The U.S. Department of State said that Da Group 22 was “receiving widespread high-priority objects” from a Germany-based firm, and was “sending widespread high-priority objects” to a Russia-based firm. “The tip customers of those widespread high-priority objects embrace the Russian army and Russian house and protection producers,” State famous.

In the meantime, Elem Group “has equipped widespread high-priority objects to Russia-based, U.S.-designated [Streloi Ekommerts],” itself a wholesaler of digital tools and components. 

In response to the National Information and Analytical Center which supplies a public registry of Kazakh corporations each Da Group 22 and Elem Group had been registered on March 14, 2022 – mere weeks after the Russian invasion started.

The Kazakh Ministry of Commerce and Integration advised TASS that it had been knowledgeable prematurely that the businesses could be listed as a part of a “constructive dialogue.” The ministry additionally acknowledged that as of Might and June of 2023, respectively, the 2 corporations had not carried out any import or export actions. The ministry additionally famous that Elem Group was within the technique of liquidation.

Whereas the variety of Central Asian people and firms topic to sanctions stemming from the Russian conflict stays small, every further designation underscores the area’s precarious place. Not solely are Central Asia economies invariably impacted by sanctions concentrating on Russia, given the deep financial connections inside the former Soviet house, however the conflict introduced a singular alternative for sure entrepreneurs considering skirting sanctions, or on the very least in flirting with the chance. It’s notable that the newly sanctioned Central Asian corporations (excluding the Uzbekistan-based workplace of PolarStar Logistics) had been all registered after the beginning of the conflict.

See also  3 Surprise AI Stocks Headed for a $1 Trillion Market Cap

Right here we encounter the murky world of parallel imports and re-exports. Notably elevated export and import figures in international locations like Kyrgyzstan and Kazakhstan over the previous two years are arguably the results of items being imported into the Central Asia international locations after which re-exported to Russia. These commerce patterns have made Central Asia international locations susceptible to secondary sanctions. That stated, the U.S. and EU, that are main the sanctions regime in opposition to Russia, have been diligent in reaching out to Central Asian international locations. That is mirrored in Kazakh Ministry of Commerce and Integration’s feedback to TASS.

Whereas Kazakhstan, like the remainder of Central Asia, has not joined worldwide sanctions in opposition to Russia, Astana has been adamant in stating, repeatedly, that it’s going to not permit Kazakh territory for use to avoid sanctions. This sentiment has been echoed throughout the area.

Final yr, within the wake of RFE/RL reporting on Kazakh and Kyrgyz companies exporting sanctioned dual-use items to Russia and subsequent reporting by the Washington Post that the Biden administration was making ready sanctions on Kyrgyz corporations, several Kyrgyz companies were sanctioned. Kyrgyz authorities responded rapidly with the State Committee for Nationwide Safety placing out a statement through which it stated it “admits the potential involvement of personal corporations and companies… which, as a part of their enterprise and manufacturing actions, could possibly be concerned in violations of sanctions restrictions, probably with out figuring out who truly could be the top client and consumer of the merchandise equipped to them.” The assertion added that the Kyrgyz state itself was not concerned in violating sanctions.

See also  These Are The 3 Cheapest Countries To Visit In Central America For 2024

Two years on, the conflict in Ukraine is slogging on and it’s clear that the U.S. and EU are watching carefully and pulling on the free threads – even those who tie again to Bishkek.

You Might Also Like

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

How China’s Companies Are Responding to the US Trade War

The US Flip-flop Over H20 Chip Restrictions 

TAGGED: Additional, Asian, Central, Companies, List, puts, Russia, Sanctions

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article Saint Laurent Fall 2024 Ready-to-Wear Collection
Next Article TJX Earnings, Revenue Growth Accelerate; Buyback, Dividend Hike Offset Guidance TJX Earnings, Revenue Growth Accelerate; Buyback, Dividend Hike Offset Guidance

Stay Connected

1.30M Followers Like
311 Followers Pin
766 Followers Follow

Latest News

Flawless Foundation: Why Reliable Face Care is Your Makeup’s Best Friend
Beauty May 11, 2025
Surprising Benefits of Eating Eggs Everyday for Your Health
Beauty May 10, 2025
Holistic Approaches to Support Your Skin’s Natural Glow
Beauty May 7, 2025
Elevate Your Aesthetic: how to Master the Effortlessly Chic Look
Beauty May 4, 2025
Cambell Kenneford Inspires a New Trans Generation
Beauty May 3, 2025
//

This is your World, Finance, Fitness, Fashion  Sports  website. We provide the latest breaking news straight from the News industry.

Quick Link

  • Contact
  • Privacy Policy
  • Terms & Conditions

Top Categories

  • Fashion
  • Finance
  • Fitness
  • Gadgets
  • Travel

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
24x7Report24x7Report
Follow US

© 2023 24x7Report.com - All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?