Following the Russian subsidiaries of major banks Raiffeisen and UniCredit, the Ukrainian government has now imposed sanctions on another Vienna-based company. Specifically, it concerns Vend Ore GmbH and its Russian-Israeli shareholders.
On Saturday, Ukrainian President Volodymyr Zelenskyi issued a decree publishing several blacklists of hundreds of companies, organizations and people alleged to have supported Russia’s offensive war. According to a report in the daily newspaper Der Standard, Vend Ore had already been sanctioned by the US Treasury Department at the end of February. According to a report from the time, the company, which was founded in November 2019, was engaged in “management, business and operational consulting”, as well as “trade in all kinds of commodities” and participations. With Zelenskyj’s decree, US sanctions should now be understood.
Sanctions apply for ten years
The new Ukrainian sanctions are in most cases for a period of ten years. For example, directors of arms factories and military research institutions are sanctioned. This sector is also particularly affected by companies. However, sanctions are also imposed on the Russian Ministry of Finance and the Federation Council, the upper house of the Russian parliament. Among the most prominent names on the list are the wife and son of Russian ex-president Dmitry Medvedev, Svetlana and Ilya.
Iranian Revolutionary Guards are also on the list
In addition, it also affects the Iranian Revolutionary Guards. Iran is suspected of supplying so-called kamikaze drones to Russia for its airstrikes on Ukraine. The punitive measures are seen as mostly symbolic, as most of those affected have no property in Ukraine.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
