Western nations sanction Rostec, the largest Russian pharmaceutical manufacturer
Rostec and other Russian companies hit by sanctions have links to U.S. biotechs, VC
New restrictions on Russian individuals and enterprises announced by the U.S., EU nations and other countries limit interactions with Russia’s largest pharmaceutical companies, including companies that have ties to U.S. companies.
The U.S. government Thursday joined the U.K. and EU in placing sanctions on Sergei Chemezov, director general of Rostec, a Russian state-owned corporation that is the country’s largest manufacturer of pharmaceuticals. The U.S. government had previously sanctioned Chemezov in 2014 for his role in the destabilization of Ukraine and Russian occupation of Crimea. The U.S. Treasury Department said Chemezov, a former KGB officer, is “a trusted ally of President Putin, whom he has known since the 1980s when they lived in the same apartment complex in East Germany.”...