As his father is a member of the Presidential Administration of Russia, sanctions were imposed by the United States against Vladimir Kiriyenko (VK CEO), US sanctions were also imposed on VEB.RF, and Promsvyazbank, state-owned banks. The Zelenograd microelectronic plants Angstrem-T, and the Russian Export Center will be affected, among others.
US sanctions against Russia
The US Treasury has placed sanctions on Russian officials, organizations and families. These sanctions include the imposition of sanctions against Russian officials and organizations, as well as the prohibition of doing business with them. These sanctions were issued in response to Russia’s recognition that the Donetsk People’s Republics are independent.
US President Announces Sanctions Joe Biden (Joseph Biden). The U.S. Treasury Department’s Office of Foreign Assets Control, (OFAC), will monitor compliance to the sanctions. The Specially Designated Nationals List (SDN) is a list of sanctioned people that OFAC maintains.
Vladimir Kiriyenko: The son answered for his father
Particularly, the sanctions Vladimir Kirienkoson of the Deputy Chief of the Administration for the President of Russia Sergei Kiriyenko. Sergei Kiriyenko has been subject to US and EU sanctions ever since 2020.
Vladimir Kiriyenko is the CEO of VK, the son of Sergei Kiriyenko. He is also the Deputy Head for the Administration of President of Russia.
Vladimir Kiriyenko is the head of the VK Internet Holding (formerly Mail.ru Group) since 2021. His appointment coincided in the transfer of the company under Gazprom’s control. VK combines Mail.ru, Odnoklassniki, VKontakte social networking, ICQ messenger and mobile developer My.com with other projects.
The London Stock Exchange trades the company’s shares as global depositary receipts, or GDRs. The securities have been declining in value since 2021. GDRs, which are company shares, were listed on the London Stock Exchange at $22 at October 31, and dropped to $7.2 by January 22. They were then worth $5.2.
Kiriyenko Jr. served as Senior Vice President of Rostelecom from 2016-2021 before he joined VK. Prior to that, he was involved in venture investment through the Titanium Investments fund in the British Virgin Islands. He was the partner of the fund. Alexander AivazovHe was then appointed vice president of Rostelecom and has since moved to VK.
Kiriyenko claimed that he left Rostelecom because he came to Rostelecom. However, the Important Stories publication (recognized in Russia as a foreign agency), while investigating Pandora Archive (leakage documents from offshore jurisdictions), discovered that this was at least 2016-2017. Kiriyenko was also the owner of Titanium VC Investments, a fund that was registered in the exact same jurisdiction. This particular fund invested in Israeli startups.
CNews was told by VK’s press office that the OFAC SDN inclusion of the chief of the company will not affect its operational and financial activities as well as its interactions with other partners. It was also reminded that RuNet is its leader in the segment of e-mails and social networks.
Sanctions against VEB.RF and Angstrem-T, as well as the Russian Export Center
VEB (full title VEB.RF), and Promsvyazbank(PSB) were also affected by the sanctions. The PSB was also included on the sanctions list of Great Britain, which also placed sanctions against Russia.
The US Treasury has released a statement listing the “daughters of VEB” and PSB who also fell under sanctions. There are many technology companies among them. VEB’s Zelenograd microelectronic facility Angstrem T is one example. VEB opened an 815 million euro credit line in 2008 to finance the construction of the plant and purchase of equipment from American company AMD.
In 2012, the former Minister for Communications bought the plant. Leonid Reiman. VEB.RF declared bankruptcy due to inability to pay the debt at the close of 2018. VEB.RF also placed sanctions on the NM-Tech company through which it bought Angstrem-T’s property.
The US Department of Commerce placed sanctions in place on 2016 for the Angstrem enterprise group, which included Angstrem-T, and Mikron, another Zelenograd microelectronics facility. American citizens were prohibited from working with these companies because of the sanctions. This led to AMD specialists leaving Angstrem-T and the plant not being fully launched.
A sanction was also given to VEB.RF structures, Russian Export Center and Russian Agency for Export Credit and Investment Insurance, VEB Capital and VEB Ventures, and other subsidiaries of state bank.
VEB.RF stated that, despite increasing pressure, the companies will continue to improve financial stability and operational efficiency. They will also properly fulfill their obligations and use every means possible to protect their rights, legitimate interests, and to safeguard their rights. The company stated that the restrictions by the United States would not affect VEB.RF’s commitment to its mission of promoting the Russian economy and the well being of its citizens.
Promsvyazbank under sanctions
The PSB Innovations and Investments Company, PSB and Technosoft were all approved. Promsvyazbank belonged to the Promsvyazcapital brotherhood. DmitryAnd Alexey Ananyev. Technoserv AS was a part of this group, and in that vein the Technosoft company was born.
Promsvyazbank became the property and was reorganized in 2017. Technoserv AS, which was then the property of VTB the state bank, became T1 Integration.
Promsvyazbank announced in a statement that US sanction were anticipated. “The necessary measures have been prepared in advance and carried out by the bank in a working order,” the bank assured. “Sanctions do not have a significant impact on the activities of the PSB.”
Sanctions against high-tech products could be possible
According to Foreign Policy’s American edition, the Biden administration is also in talks with Japan, Singapore, Taiwan, and Japan about imposing sanctions on Russia regarding high-tech products like semiconductors.
