Sunday, May 28, 2023

Ukraine Imposes Sanctions on Austrian Company Vend Ore GmbH

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Laura Niklas
Laura Niklas
Laura Niklas is a talented journalist with a passion for uncovering under-reported stories. With over seven years of experience, she has made a name for herself in the industry with her in-depth reporting and unique perspective. Laura holds a degree in journalism from the University of Salzburg and has worked for top Austrian newspapers. Her work has been recognized with several awards and she is dedicated to delivering thought-provoking journalism to her readers. Known for her determination and integrity, Laura is a valuable member of the Austrian journalism community.
Sanctions on Austrian Company Vend Ore GmbH

Ukraine has taken a step to counter Russian aggression against its territory by imposing new sanctions on individuals and companies from Russia. President Volodymyr Zelensky published several blacklists that included hundreds of entities believed to have supported Russia’s war of aggression. The sanctions apply in most cases for a period of ten years and are primarily symbolic, as most of those affected do not have any property in Ukraine.

The move comes amid an ongoing conflict between Ukraine and Russia, which started in 2014 when Russia annexed Ukraine’s Crimean peninsula. Since then, Russia has been accused of backing separatists in eastern Ukraine, leading to clashes between the Ukrainian military and the rebels. The conflict has resulted in the deaths of thousands of people.

The new sanctions are expected to align with the US sanctions and include a Vienna-based company, Vend Ore GmbH, with Russian-Israeli shareholders. The company was already sanctioned by the US Treasury Department at the end of February. Reports indicate that the company dealt with management, corporate and operational consulting, trade in goods of all kinds, and shareholdings.

In addition to the company, the new sanctions also target directors of armaments factories and military research institutions, as well as the Russian Ministry of Finance and the Federation Council, the upper house of the Russian parliament. Notable names on the list include the wife and son of Russia’s ex-president Dmitry Medvedev. The Iranian Revolutionary Guards are also targeted by the sanctions as they are suspected of supplying kamikaze drones to Russia for its airstrikes against Ukraine.

While the new sanctions are primarily symbolic, they show Ukraine’s determination to counter Russian aggression and maintain its sovereignty and territorial integrity. However, it remains to be seen how effective the sanctions will be as most of those affected do not have any property in Ukraine.

One of the notable exceptions on the list is former director of Ukrainian turbine manufacturer Motor Sich, Vyacheslav Bohuzlayev, who has been in custody since last fall on suspicion of collaboration with Russia. The group is based in the southern Ukrainian city of Zaporizhia. Bohuzlayev’s arrest was part of Ukraine’s efforts to prevent Russian attempts to gain control of the company.

The conflict between Ukraine and Russia has been ongoing for several years, with occasional clashes and ceasefire violations. The sanctions are part of Ukraine’s efforts to counter Russian aggression and send a message to the international community that it is committed to maintaining its sovereignty and territorial integrity.

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