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US widens terms for sanctioning Russian firms

August 14, 2014, 13:51 UTC+3 WASHINGTON
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WASHINGTON, August 14. /ITAR-TASS/. The US Treasury Department has revised the rules of blacklisting Russian companies to include firms where blacklisted officials and firms hold a 50% or more interest, according to a statement seen by PRIME Thursday.

Previously, a 50% or larger stake had to be owned by one blacklisted entity for the company to make it to the black list.

Under the new rules, insurer Sogaz belonging to Bank Rossiya and Gennady Timchenko’s Volga Group may appear on the sanction list as well.

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