Who is on the US SDN list?
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On the second anniversary of the start of hostilities in Ukraine, the United States imposed sanctions against almost a hundred more Russian companies. The largest of them were key players in the coal market SUEK and Mechel, pipe manufacturer TMK and the largest container operator Transcontainer. Washington also continued to impose sanctions against Russian LNG projects: the operator of the future plant in Ust-Luga “Ruskhimallians”, NOVATEK structures and the Yakut project of Albert Avdolyan “Globaltek” were included in the SDN list.
On February 23, the US Treasury published new sanctions against Russian companies. The main focus was on the mining and metals sector, especially coal mining, in which the main players have so far avoided sanctions. SUEK, Russia’s largest coal producer, and Mechel were included in the SDN list. Former SUEK beneficiary Andrey Melnichenko came under European sanctions back in 2022 and became a co-owner. Mechel co-owner Andrei Zyuzin was included in the UK sanctions list on February 22.
Being included in the SDN list means the inability to use the dollar for settlements and the risk of secondary sanctions for all counterparties, which makes foreign trade transactions extremely difficult.
The largest Russian pipe manufacturer TMK and its main subsidiaries were also subject to sanctions. After the outbreak of hostilities in Ukraine, TMK founder Dmitry Pumpyansky was included in the EU and UK blacklists, after which he transferred his share in the company to management.
Among those subject to American sanctions are Konstantin Strukov and his company Yuzhuralzoloto, as well as the former owner of ChelPipe Andrei Komarov and related assets: Bystrinskaya Mining Company, Fedorovo Resources, as well as a large manufacturer of equipment for oilfield services, Rimera. The SDN list also includes companies associated with Roman Trotsenko: AEON Mining (Vorkutaugol and coal assets in Taimyr) and GeoproMining (mining non-ferrous metals).
If Mechel had remained listed on the New York stock exchange, it could have been called the most affected company, says independent industrial expert Maxim Shaposhnikov.
The rest will receive problems that are standard for Russian business, which they have already learned to solve in two years, he believes.
Companies subject to sanctions do not disclose data about the countries where they receive revenue. Mechel disclosed in its 2020 report that Europe and the USA accounted for 13% of revenue. According to TMK’s 2021 report, the European and American markets accounted for 9.5% of revenue. SUEK lost the ability to export to Europe after the embargo on Russian coal was introduced in August 2022, and its main market is now China.
Washington also began sanctioning large Russian logistics companies for the first time.
TransContainer, the country’s largest container fleet owner and operator of fitting platforms, and the Eastern Stevedoring Company, a member of Global Ports, which operates a large container terminal in Nakhodka, were included in the SDN list.
The United States also continues to impose sanctions on the Russian LNG sector. The blocking package also includes Ruskhimalliance LLC, a joint venture between Gazprom and Rusgazdobychi, which is responsible for the construction of the largest gas processing and liquefaction complex in Ust-Luga in the Russian Federation, worth almost 3 trillion rubles. and with the launch of the first stage in 2026. Inclusion in the SDN list will make it extremely difficult for the project to conclude export contracts for LNG.
NOVATEK structures continue to be included in the SDN list. This time, US sanctions were imposed on Modern Marine Arctic LNG Transport LLC, a joint venture between Sovcomflot and NOVATEK, which acts as the customer and fleet operator for the Arctic LNG-2 project, as well as for subsequent LNG projects. Also on the list is NOVATEK-Murmansk, which manages the Center for the Construction of Large-Capacity Offshore Structures in Murmansk, where they create gravity platforms for LNG plants in the Arctic. Restrictions have also been introduced in relation to the Zvezda shipbuilding complex, which is building 15 tankers of the increased Arc7 ice class for NOVATEK, as well as heavy-duty nuclear icebreakers Leader. All these restrictions further complicate NOVATEK’s ability to obtain ice tankers for Arctic LNG 2; without them, the project will not be able to begin shipping LNG.
In addition, sanctions were imposed on Globaltek LLC, a member of Albert Avdolyan’s A-Property, created for the construction of an LNG plant on the shore of the Sea of Okhotsk with a capacity of 17.7 million tons per year based on fields in Yakutia. Its launch was planned for 2026–2027.
Finally, Rosgeologiya and its largest subsidiaries, as well as a number of other Russian geological exploration companies, fell under sanctions.
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