U.S. Lifts Sanctions on Former Russian Finance Minister Mikhail Zadornov

Sanctions Removed from Mikhail Zadornov

According to Главком: The United States has removed sanctions against Mikhail Zadornov, a former Finance Minister of the Russian Federation. The relevant update was published on the website of the Office of Foreign Assets Control (OFAC) within the U.S. Department of the Treasury. Zadornov served as finance minister from 1997 to 1999 and was also a member of the Russian State Duma for several terms, representing the Yabloko party. This move is notable as the U.S. maintains extensive sanctions against numerous Russian officials and entities.

Zadornov had been under U.S. sanctions since 2022 due to his role as chairman of the Russian bank Otkritie. That bank was acquired by the VTB group at the end of 2022 and ceased to exist as a legal entity. In 2024, Zadornov filed a lawsuit in a U.S. court seeking to have the sanctions overturned.

Vessels and Oil License Also Affected

In a related action, the U.S. Treasury Department also removed three Russian-flagged vessels from its sanctions list:

• Fesco Moneron
• Fesco Magadan
• Sv Nikolay

Furthermore, the United States issued a temporary license permitting the sale of Russian oil and petroleum products already loaded onto tankers at sea. This license is valid until 11:59 p.m. Washington, D.C. time on April 11. It authorizes the supply and sale of Russian crude oil and petroleum products that were loaded onto vessels from March 12 onward.

An American official noted that

“adding and removing individuals from the sanctions list is a tool of U.S. foreign policy, and removal from the list can be linked to a positive change in behavior.”

Consequently, the decision regarding Zadornov may signal certain adjustments in the relationship between the U.S. and Russia.

The lifting of sanctions against Mikhail Zadornov and the three Russian vessels could indicate specific recalibrations in U.S. foreign policy toward Russia. This decision, coupled with the temporary license for Russian oil sales, may form part of a broader diplomatic strategy involving a selective easing of pressure in certain areas. Such shifts might reflect both domestic political dynamics within the U.S. and potential intentions to improve bilateral relations with Russia amid ongoing global challenges.

The recent decision to lift sanctions on Mikhail Zadornov aligns with broader changes in U.S. policy towards Russia, as evidenced by the simultaneous removal of sanctions on three Russian vessels and the issuance of a temporary oil sales license. This development could indicate a potential shift in diplomatic relations. For a closer look at these measures, including the specifics about the vessels and the implications for oil sales, see our detailed report on the recent sanctions adjustments.