Ministry of Finance Notice today’s new round of economic sanctions against Russian companies and individuals includes a significant number of new sanctions that fall on companies operating in Russia’s technology sector.
New sanctions of the Ministry of Finance, together with them announced separate from the Ministry of Foreign Affairs and the Ministry of Commerce, mark “two years of Russia’s unprovoked and illegal full-scale war against Ukraine” and come “in response to the death of opposition politician and anti-corruption activist Aleksey Navalny,” the Finance Ministry said.
The sanctions were imposed under an executive order signed by President Biden in 2021 freezing assets of the Russian Federation and a previous order freezing assets linked to terrorism.
The Ministry of Finance announced that the new sanctions issued by its Foreign Assets Control Office affect nearly 300 entities and individuals. In total, the sanctions announced by the three agencies target more than 500 entities and individuals and include export control restrictions.
The sanctions announced by the Ministry of Finance cover a number of industries in Russia, including the financial sector, but many appear to be related to weapons production, particularly in the area of unmanned aerial vehicles.
In the technology sector, the Ministry of Finance announced that it has sanctioned the following companies “for operating or having operated in the technology sector of the economy of the Russian Federation”:
- 3data, which operates a network of state-of-the-art data centers, and its clients include companies in the Russian manufacturing and construction industries.
- Ai Teko Engineering, which designs and builds IT infrastructure, conducts IT consultancy and develops software.
- Hash Maker Limited Liability Company (Hash Maker), which creates and implements programs for electronic computers, databases and information systems.
- ICL Electronics Limited Liability Company (ICL Electronics) and ICL Techno Limited Liability Company (ICL Techno), which are important players in the Russian computer hardware and software industry.
- Infotech Balakovo Limited Liability Company (Infotech Balakovo), engaged in data processing activities, provision of information hosting services and development of computer software.
- Limited Liability Company Inferit, which manufactures computer equipment and infrastructure software for Russian business and government users.
- Limited Liability Company Safedata, which deals with data processing and hosting.
- LLC security code, developer of software and hardware used for information security systems.
- Miran LLC, which designs, builds and operates data centers.
- MP limited liability company (MP LLC), which sells, repairs and maintains software and hardware systems and equipment for computer and IT infrastructure.
- NPO Computer, which develops software products and supports IT solutions for Russian companies.
- O2 Claud, who manages the data center and provides infrastructure security and networking products.
- Red Soft, which deals with the development of management information systems, software and IT solutions and services.
- Sirokko Tekhnolodzhi, which deals with data processing, hosting and related activities and performs computer consulting, computer programming and other IT and computer service activities.
- Stack Telecom Ltd, which manages data centers and provides IT services to large Russian commercial entities and government agencies.
- T1 Holding, which provides a full range of IT services for the implementation of high-tech projects.
- TrustInfo, which manages one of the largest data centers in Russia and has completed projects for Russian state institutions and industrial enterprises.