Four Russian insurers blacklisted by the US and Europe

The U.S. government has upgraded its Specially Designated Nationals and Block Persons List (SDN), a sanctions tool managed by the U.S. Treasury Department (OFAC).

Three Russian insurance companies have been included in the updated SDN list: Sovcombank Insurance, Rosgosstrakh Insurance company group (RGS) and Russian Agency for export credit and investment insurance.

Meanwhile, the European Union has imposed restrictive measures on the company SOGAZ with regard to actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

The EU claims that the Russian insurer has provided for the construction of railway infrastructure connecting the Kerch Strait Bridge with the port of Taman and has reinsured the construction of the Kerch Strait Bridge. The entity is believed to have contributed to the Russian invasion in Ukraine.