The U.S. Department of the Treasury has expanded and toughened the sectoral sanctions

Sovcomflot is on the list of companies covered by the new debt and equity restrictions announced by the White House .

The U.S. Department of the Treasury has expanded and toughened the sectoral sanctions imposed in 2014.  Up to the present, they prohibited transactions and dealings by U.S. citizens and companies in new long-term debt and new equity of five state banks including Sberbank, VTB, Gazprombank, Rosselkhozbank and VEB.RF, oil and gas companies including Rosneft, Gazprom Neft, Transneft and NOVATEK as well as state corporation Rostec.

The new restrictions are imposed on all transactions in, provision of financing for, and other dealings in new debt of greater than 14 days maturity and new equity issued by thirteen Russian state-owned enterprises and entities:  Sberbank, AlfaBank, Credit Bank of Moscow, Gazprombank, Russian Agricultural Bank, Gazprom, Gazprom Neft, Transneft, Rostelecom, RusHydro, Alrosa, Sovcomflot, and Russian Railways. 

On February 24, Russian President Vladimir Putin announced a “special military operation” in Donbass. USA and other NATO and EU countries expressed disapproval of Russia’s actions.

Source: PortNews