Role of the Treasury
Officials
Organizational Chart
Orders and Directives
Diversity, Equity, Inclusion, and Accessibility
Domestic Finance
Economic Policy
General Counsel
International Affairs
Management
Public Affairs
Tax Policy
Terrorism and Financial Intelligence
Inspectors General
Alcohol and Tobacco Tax and Trade Bureau (TTB)
Bureau of Engraving & Printing (BEP)
Financial Crimes Enforcement Network (FinCEN)
Bureau of the Fiscal Service (BFS)
Internal Revenue Service (IRS)
Office of the Comptroller of the Currency (OCC)
U.S. Mint
Office of Inspector General (OIG)
Treasury Inspector General for Tax Administration (TIGTA)
Special Inspector General for the Troubled Asset Relief Program (SIGTARP)
Special Inspector General for Pandemic Recovery (SIGPR)
Strategic Plan
Budget Request/Annual Performance Plan and Reports
Agency Financial Report
Inspector General Audits and Investigative Reports
Climate Action Plan
IRS Strategic Operating Plan
Curator
History Overview
Prior Secretaries
Prior Treasurers
The Treasury Building
Collections
Freedman’s Bank Building
At Headquarters
At Our Bureaus
Top 10 Reasons to Work Here
Benefits and Growth
Diversity
Veterans Employment
Pathways
How to Apply
Search Jobs
American Families and Workers
Small Businesses
State, Local, and Tribal Governments
American Industry
Revenue Proposals
Tax Expenditures
International Tax
Treaties and Related Documents
Foreign Account Tax Compliance Act (FATCA)
Reports
Tax Analysis
Tax Regulatory Process
Treasury Coupon Issues
Corporate Bond Yield Curve
Economic Policy Reports
Social Security and Medicare
Total Taxable Resources
Sanctions
Asset Forfeiture
Domestic Violent Extremism
311 Actions
Terrorist Finance Tracking Program
Money Laundering
Financial Action Task Force
Protecting Charitable Organizations
Treasury Quarterly Refunding
Interest Rate Statistics
Treasury Securities
Treasury Investor Data
Debt Management Research
Cash and Debt Forecasting
Debt Limit
Financial Stability Oversight Council
Federal Insurance Office
RESTORE Act
1603 Program
The Community Development Financial Institution (CDFI) Fund
Making Home Affordable
Specially Designated Nationals List (SDN List)
Consolidated Sanctions List
Search OFAC’s Sanctions Lists
Additional Sanctions Lists
OFAC Recent Actions
Sanctions Programs and Country Information
Frequently Asked Questions
OFAC Civil Penalties and Enforcement
Contact OFAC
Financial Literacy and Education Commission
Mymoney.gov
Innovations in Financial Services
Featured Research
The Committee on Foreign Investment in the United States (CFIUS)
Outbound Investment Program
Exchange Stabilization Fund
G-7 and G-20
International Monetary Fund
Multilateral Development Banks
Macroeconomic and Foreign Exchange Policies of Major Trading Partners
Exchange Rate Analysis
U.S.-China Comprehensive Strategic Economic Dialogue (CED)
Small and Disadvantaged Business Utilization
Small Business Lending Fund
State Small Business Credit Initiative
Daily Treasury Par Yield Curve Rates
Daily Treasury Par Real Yield Curve Rates
Daily Treasury Bill Rates
Daily Treasury Long-Term Rates
Daily Treasury Real Long-Term Rates
Treasury Coupon Issues
Corporate Bond Yield Curve
Your Guide to America’s Finances
Monthly Treasury Statement
Daily Treasury Statement
USAspending.gov
National Debt to the Penny
Historical Debt Outstanding
Monthly Statement of the Public Debt
Debt Management Overview and Quarterly Refunding Process
Most Recent Documents
Archives
Webcasts
U.S International Portfolio Investment Statistics
Release Dates
Forms and Instructions
Reports
Report COVID-19 Scam Attempts
Report Scam Attempts
Report Fraud Related to Government Contracts
Inspectors General
Buy, Manage, and Redeem
Treasury Hunt – Search for Matured Bonds
Cashing Savings Bonds in Disaster-Declared Areas
Frequently Asked Questions
Pay for Results (SIPPRA)
RESTORE Act
Community Development Financial Institution (CDFI) Fund
Where is my Refund?
Lost or Expired Check
Direct Express Card
Non-Benefit Federal Payments
Electronic Federal Benefit Payments – GoDirect
Shop for Coin Products
Shop for Currency Products
Redeem Damaged Currency
Bureau of Engraving and Printing
U.S Mint
IRS Auctions
Real Estate
General Property, Vehicles, Vessels & Aircraft
Applications
Frequently Asked Questions
Internal Revenue Service (IRS)
IRS Forms, Instructions & Publications
Refund Status
Foreign Account Tax Compliance Act
IRS Forms and Instructions
Savings Bonds – Treasury Securities
Bank Secrecy Act – Fincen 114 and more
OFAC License Application
OFAC Reporting
Treasury International Capital (TIC)
Enterprise Applications (EA)
Treasury Franchise Fund (TFF)
Administrative Resource Center (ARC)
Shared Services Program (SSP)
Financial Management Quality Service Management Office Marketplace Catalog
TreasuryDirect
Invoice Processing Platform
Historic Treasury Building
Library
Curator
Bureau of Engraving and Printing
U.S. Mint
Press Contacts
Weekly Public Schedule Archive
Webcasts
Media Advisories Archive
Subscribe to Press Releases
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on three entities tied to a sanctions evasion network attempting to support arms deals between Russia and the Democratic People’s Republic of Korea (DPRK). The entities are Limited Liability Company Verus (Verus), Defense Engineering Limited Liability Partnership (Defense Engineering), and Versor S.R.O. (Versor).
This action is part of the continuing U.S. strategy to identify, expose, and disrupt third-country actors seeking to support Russia’s brutal war against Ukraine. As Russia has continued to expend munitions and lose heavy equipment on the battlefield, it has been increasingly forced to turn to its few allies, including the DPRK, to sustain its unprovoked war in Ukraine. To date, Treasury has sanctioned hundreds of individuals and entities involved in circumventing the international sanctions regime on Russia.
“The United States continues to root out illicit financial networks that seek to channel support from North Korea to Russia’s war machine,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Alongside our allies and partners, we remain committed to exposing and disrupting the arms trade underpinning Putin’s brutal war in Ukraine.”
OFAC designated Slovakian national Ashot Mkrtychev (Mkrtychev) on March 30, 2023, for attempting to facilitate arms deals between Russia and the DPRK. Through his negotiations with DPRK and Russian officials, he organized potential plans to transfer over two dozen kinds of weapons and munitions to Russia in exchange for a range of goods, including raw materials and commodities, to the DPRK. Mkrtychev is the President of Versor, the founder and owner of Verus, and the sole director of Defense Engineering. Mkrtychev has coordinated with DPRK procurement officials and used Versor to conduct negotiations with companies abroad.
OFAC is designating Versor, Verus, and Defense Engineering pursuant to Executive Order (E.O.) 13551 for being owned or controlled by, or having acted or purported to act on behalf of, directly or indirectly, Mkrtychev, an individual blocked pursuant to E.O. 13551.
As a result of today’s action all property and interests in property of the designated persons described above that are in the United States, or in the possession or control of U.S. persons, are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked person are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.
In addition, persons that engage in certain transactions with the individual designated today may themselves be exposed to designation. Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for the individual designated today could be subject to U.S. correspondent or payable-through account sanctions.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, please refer to OFAC’s Frequently Asked Question 897 here.
For detailed information on the process to submit a request for removal from an OFAC sanctions list, please click here.
Click here for more information on the entities designated today.
###