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US imposes fresh sanctions on multinational network helping Russia

by Lance Luo December 6, 2023 7:45 AM 1 min read
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The U.S. Office of Foreign Assets Control (OFAC) on Dec. 5 imposed new sanctions targeting an international weapons procurement network that Washington says involves numerous Cyprus-incorporated entities as well as businesses registered in Sweden, Hong Kong, and the Netherlands.

OFAC alleges Belgium-based businessman Hans De Geetere helms the network which procures sophisticated electronics with potential military applications for Russia-based end-users.

"Today's coordinated action reflects our collective commitment to enforcing our sanctions and export controls, including holding accountable those who seek to evade these measures," said Treasury officer Brian E. Nelson.

OFAC says it will "remain focused on disrupting any attempts by Russia or its trusted agents to gain access to the critical inputs and technologies necessary to support Moscow's defense industry and facilitate its brutal war in Ukraine."

De Geetere runs the Belgium-domiciled Knokke Heist Support Corporation Management, Cyprus-domiciled Eriner company, and Cyprus-domiciled The Mother Ark, and Netherlands-based European Trading Technology, all designated for the latest package of sanctions.

US sanctions three companies that help Russia circumvent oil price cap
“Enforcement of the price cap on Russian oil is a top priority for the United States and our coalition partners,” said Deputy Secretary of the Treasury Wally Adeyemo.

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