What Russian banks are sanctioned?

Sberbank (full blocking), VTB (full blocking), Gazprombank (sectoral/debt restrictions). Many smaller banks also designated.

What is the Russian oil price cap?

$60/barrel. Maritime service providers (insurance, shipping) cannot service Russian crude sold above this price.

How often are Russia designations updated?

Frequently, often monthly or in response to geopolitical events. Rescreen Russia-connected counterparties regularly.

OFAC Russia Sanctions (EO 14024)

Executive Order 14024 (April 2021) authorizes blocking sanctions on the Russian government, financial institutions, oligarchs, and entities supporting Russian harmful foreign activities. Massively expanded after the 2022 invasion of Ukraine.

Key designation categories

Oil price cap

The G7 oil price cap (effective December 2022) prohibits the provision of maritime services (insurance, shipping, finance) for Russian crude oil sold above $60 per barrel. Enforced by OFAC and allied regulators.

Category	Examples
Financial institutions	Sberbank, VTB, Gazprombank
Oligarchs and elites	Designated individuals with close Kremlin ties
Defense and military	Rostec, defense manufacturers, military suppliers
Energy	Price cap mechanism on Russian oil at $60/barrel
Technology	Export controls on semiconductors, dual-use tech

Screening: Russian sanctions designations are frequent. Rescreen all Russia-connected counterparties against the updated SDN list.

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Frequently Asked Questions

What is Executive Order 14024?: Authorizes blocking sanctions on Russian government, financial institutions, oligarchs, and entities supporting harmful foreign activities.
What Russian banks are sanctioned?: Sberbank (full blocking), VTB (full blocking), Gazprombank (sectoral/debt restrictions). Many smaller banks also designated.
What is the Russian oil price cap?: $60/barrel. Maritime service providers (insurance, shipping) cannot service Russian crude sold above this price.
How often are Russia designations updated?: Frequently, often monthly or in response to geopolitical events. Rescreen Russia-connected counterparties regularly.