The US Department of Commerce says it will blacklist three Finnish companies due to their ongoing dealings with Russia.
Two of the firms are Luminor and Siberica, which were placed on a Russia-connected sanctions list by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) earlier this month.
The third company trades under the Evolog name.
In a press release, the Department of Commerce noted that the Finnish firms have been part of a supply chain providing components to a St Petersburg company that manufactures drones for Russian military intelligence.
A total of 28 companies from around the world were added to the updated list. US companies are prohibited from selling products or services to the blacklisted firms without express authorisation.
Ten Finland-based companies were already on the list before the latest additions. Evolog, Luminor and Siberica are the only Finnish firms to be added to the list since Russia's invasion of Ukraine in February 2022.
CEO remanded in custody
Last week, Eastern Uusimaa district court remanded into custody the CEO of Luminor and Siberica, French national Gabriel Temin on suspicion of an aggravated economic regulation offence and the export of military equipment. The suspected offences are believed to have been committed between April 2022 and September 2023.
His detention was requested by the Finnish Customs office.
Luminor is a logistics firm, based in Vantaa with one employee and annual turnover last year of 14.7 million euros — a significant increase of 600 percent on the previous year's turnover. The company made a profit in 2022 of 447,000 euros, according to publicly-available information obtained by Yle.
Siberica is a warehousing company, based at the same address in Vantaa as Luminor, with two employees. Last year the company had a turnover of just under 700,000 and reported a loss of 23,000 euros.
Would you like a roundup of the week's top stories in your inbox every Thursday? Then sign up to receive our weekly email.