The Dutch subsidiary of Alfa Bank, Amsterdam Trade Bank (ATB) has been included in the Specially Designated Nationals List (SDN List) of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC).

The United States on Wednesday imposed blocking sanctions against Alfa Bank, Russia's largest private bank, and its subsidiaries

In addition to ATB, the following entities affiliated with Alfa Bank have been put on the OFAC list: Alfa Direct, Cyprus-based Alfa Capital Markets, Alfa Forex, Alfa Leasing and the Russian bank's subsidiary in Kazakhstan.

Vessels sailing under the Russian flag with links to Alfa Leasing - tankers Lady Leila, Lade Rania and Lade Sevda and bulk carriers SV Konstantin and SV Nikolay - have also been hit by the sanctions.

The U.S. authorities have given a month, until May 6, for counterparties to wind down operations with Alfa Bank.

However, the sanctions will in no way affect the operations of Alfa Capital, Alfa Group's investment management company said. "The sanctions against Alfa Bank do not apply to management company Alfa Capital. The company is not on the sanctions lists of any countries or territories. All Alfa Capital services, including personal accounts and the mobile app, are operating as usual," Alfa Capital said.

Amsterdam Trade Bank N.V., which was founded in the Netherlands in 1994, focuses on trade financing (oil and gas, ferrous and nonferrous metals, agriculture), and financing of investment projects and marine vessels. ATB provides services to companies in the natural resources mining and processing industry, manufacturers, ship owners and international freight shippers. Alfa Bank owned 78.36% of ATB as of the middle of 2021.

Alfa Bank is owned by Luxembourg-based ABH Holdings. The company's ownership structure changed in mid-March, when German Khan and Alexei Kuzmichyov, who owned 21% and 16.3%, respectively, ceased to be shareholders of the lender. The bank was left with five shareholders, none of whom holds a controlling interest. Andrei Kosogov, one of the founders of Alfa Group's financial business, became the bank's largest shareholder with 41%. The other shareholders' stakes did not change: Mikhail Fridman holds 32.9%, Petr Aven owns 12.4%; UniCredit S.p.A. holds 9.9%; and the Mark Foundation for Cancer Research holds 3.9%.