Treasury Adds Twelve Russian Banks to SDN List, Extending Secondary-Sanctions Exposure

The Office of Foreign Assets Control designated twelve mid-sized Russian state-owned and majority-owned lenders on the Specially Designated Nationals list, closing a correspondent-banking loophole flagged in the December 2025 OFAC advisory on payment-chain layering. The action extends secondary-sanctions exposure to any non-U.S. financial institution facilitating transactions with the listed entities, reinforcing...