OFAC Included Some Turkish Companies in the SDN List

The Office of Foreign Assets Control (OFAC) of the United States (US) has included some Turkish companies and an individual in the specially designated nationals and blocked persons list (SDN List) to limit Russia’s ability to acquire, develop and maintain the technology it needs for its war machines. The OFAC’s press release dated 14.09.2023 stated that these companies included in the SDN List provide or seek to provide Russia with high-tech and dual-use goods. The reasons for the inclusion of the companies in the SDN List were stated in the press release as follows:

• Supplying Russian companies previously listed on the SDN List, which are known to be involved in the production supply chain of Russian unmanned aerial vehicles, with high-priority electronic components used in Russian weapon systems;
• Sending sensors and measuring instruments to Russia;
• Providing maintenance and repair services to ships belonging to a Russian Ministry of Defense-affiliated company that was previously included in the SDN List.

As a result of inclusion on the SDN List, US citizens, foreign permanent residents of the US, legal entities established under US law, all US-based entities and natural persons, and entities owned or controlled by US citizens are prohibited from transacting with those persons included on the SDN List. In addition, all property and property interests of sanctioned parties located in the US or under the control of the US are frozen.

It is important that persons and entities that will conduct transactions with Russia and Russian parties to follow the updates in the SDN List closely.

You may access the Press Release here.