Treasury Department sanctions procurement network tied to Russian military

Nov. 14 (UPI) -- The U.S. Treasury Department sanctioned 14 individuals and 28 entities on Monday, over their continued support of the Russian military-industrial complex.

The Treasury's Office of Foreign Assets Control designated a global network of financial facilitators associated with two key Kremlin-linked elites as part of the sanctions, the department said in a statement.

The Treasury also identified eight aircraft as blocked property, related to the transnational network that continues to procure technology that supports the Russian military-industrial complex.

The State Department said on Monday it will continue working with the treasury to target international facilitators and enablers, including a Russian procurement network in Europe and Asia.

The sanctions are aimed at restricting the capabilities of a Russian defense industry that remains reliant on imported microelectronics.

In September, the OFAC imposed sanctions against Suleiman Abusaidovich Kerimov for "being or having been a leader, official, senior executive officer, or member of the board of directors of the Government of the Russian Federation." It blocked around $1 billion of the Ruissian Oligarch's assets in July.

Many of Monday's new sanctions relate to Kerimov's family members and business network. Kerimov's Delaware-based holding company, Heritage Trust, controls assets valued at over $1 billion. Monday's announcement means that money cannot be used to support the Russian military industrial complex.

The Treasury designated four of Kerimov's family members including his son Suleiman Said Kerimov, adult daughters Gulnara Kerimova and Amina Kerimova and wife Firuza Kerimova.

Four France-based real estate companies owned by Gulnara Kerimova had sanctions applied. The eight luxury aircraft that are now blocked, are operated by Malta-based Emperor Aviation.

"The United States will continue to expose and disrupt the Kremlin's military supply chains and deny Russia the equipment and technology it needs to wage its illegal war against Ukraine," Treasury Secretary Janet Yellen said in a statement.

"Today's actions demonstrate Treasury's steadfast commitment to targeting people around the world aiding Putin's war effort and the crony elites who bankroll his regime. Together with our broad coalition of partners, we will continue to use our sanctions and export controls to weaken Russia's military on the battlefield and cut into the revenue Putin is using to fund his brutal invasion."