OFAC imposes a $7.1M penalty on Gracetown Inc. for repeatedly violating U.S. Russia-related sanctions and failing to report blocked assets tied to a sanctioned Russian oligarch

OFAC finds that Gracetown continued to receive payments on behalf of a company ultimately owned by sanctioned Russian oligarch Oleg Deripaska — despite explicit notice that conducting such transactions was prohibited — and also failed to timely report blocked assets in its possession. The enforcement action, approaching the statutory maximum, underscores Treasury’s commitment to holding U.S. persons accountable for compliance with sanctions programs and reporting obligations.