Rule Change Makes More Companies Vulnerable To U.S. Sanctions
Companies even partly owned by individuals sanctioned by the U.S. government could find themselves blacklisted as the result of a rule change announced on Wednesday by the Treasury Department. Under the new rule, companies could see their assets frozen and be prevented from doing business in the United States if the aggregate ownership stakes of all individuals sanctioned by the U.S. government reached the 50 percent threshold. Any company owned by at least two of the three U.S.-sanctioned Russian billionaires, Gennady Timchenko and Boris and Arkady Rotenberg, for example, could be blacklisted even if each stakeholder only had a 25 percent interest.
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