Individuals and entities on the SDN list face severe restrictions, including:
- Prohibition on Financial Transactions: U.S. persons and entities are prohibited from conducting any financial dealings with SDNs.
- Asset Freezing: Any assets owned by SDNs under U.S. jurisdiction are frozen.
- Business Ban: U.S. persons, entities, and, in some cases, international entities with U.S. dealings are barred from doing business with SDNs.
These measures aim to isolate targeted individuals or entities economically and diplomatically.
Amid the ongoing geopolitical developments, particularly the conflict in Ukraine, the SDN list has undergone significant expansion to address national security concerns and exert pressure on involved parties. Notably, Gazprom Neft, Russia’s largest oil company, and majority owner of Serbia’s NIS ad, is among the sanctioned entities. These sanctions reflect broader efforts to disrupt financial flows supporting activities deemed contrary to U.S. foreign policy or global stability.
The inclusion of major entities like Gazprom Neft underscores the sweeping impact of these measures, targeting sectors integral to the sanctioned country’s economy.
The special review on this topic by our Senior Partner Dr Jelena Gazivoda, Partner Nikola Đorđević, Senior Associate Marko Mrđa and Associate Jana Stanojević.
