Latest Sanctions Imposed Against Grigoriy Igorevich Grigoriev And Novelco 2023

Novelco is a Russia-based freight forwarding and shipping company. Grigoriy Igorevich Grigoriev (Grigoriev), the CEO of Novelco, is being designated pursuant to Section 1(a)(iii)(C) for being or having been a leader, official, senior executive officer or member of the board of directors of, Novelco.

Sanctions Imposed Against OOO Novelco And Grigoriy Igorevich Grigoriev

GRIGORIEV, Grigoriy Igorevich (Cyrillic: ГРИГОРЬЕВ, Григорий Игоревич) (a.k.a. GRIGOREV, Girgorij Igorevich), Urovskaya, Building 95, Flat 7, Moscow 125466, Russia; DOB 19 Jun 0177; POB Istra, Russia; nationality Russia; Gender Male; Passport 721493424 (Russia); Tax ID No. 721493424 (Russia) (individual) [RUSSIA-EO14024] (Linked To: LIMITED LIABILITY COMPANY NOVELCO). 

The US Department designated 27 entities and individuals involved in the facilitation of sanctions evasion activity via international transshipment.

• Limited Liability Company Novelco (Novelco) is being designated pursuant to Section 1(a)(i) for operating or having operated in the marine sector of the Russian Federation economy. Novelco is a Russia-based freight forwarding and shipping company.
  • Grigoriy Igorevich Grigoriev (Grigoriev), the CEO of Novelco, is being designated pursuant to pursuant to Section 1(a)(iii)(C) for being or having been a leader, official, senior executive officer or member of the board of directors of, Novelco.  Grigoriev has publicly advised Russian and third-party companies on how to evade U.S. sanctions on Russia.
  • The following Grigoriev-controlled entities are being designated pursuant to Section 1(a)(vii) for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Grigoriev:
    • Limited Liability Company Novelco Global Forwarding
    • Limited Liability Company NDN
    • Smart Trading Transportation Industry and Trade Limited Company

A Moscow-based logistics firm, OOO Novelco, has been advising Russian businesses on how to continue importing foreign goods.

In September, Novelco organized a seminar in Moscow for its clients on “how to find alternative ways to deliver goods” to Russia. In a 45-minute presentation entitled “Foreign trade tactics and strategies to compensate for sanctions,” Novelco’s chief executive, Grigory Grigoriev, urged companies to stockpile products and develop diversified pools of suppliers from more than one country.

One Novelco executive offered a tip for clients tempted to use the Chinese territory of Macau as a shipping point to Russia: “We do not recommend sending cargo through this airport, despite the attractive rates, as there are enormous waiting times, cancellations.”

To resolve shipping problems, he and other Novelco executives have recommended on the company’s YouTube channel using lessons learned during the pandemic, such as transporting goods through third countries, rather than directly from a supplier.

In interviews with Russian media and in a series of posts on LinkedIn, Grigoriev described recent trade restrictions on Russia as tantamount to erecting an “iron curtain” around his country.

He said in one LinkedIn post that Novelco had set up an affiliate in Istanbul and has been shipping goods to Russia from Turkey, which doesn’t enforce all U.S. and EU Russian trade restrictions. Once merchandise arrives in Turkey, “shipments are processed for re-export and cargo can follow to Russia by air, sea, road and rail transport,” Grigoriev said in the post.

In March, Grigoriev registered in Istanbul a company called Smart Trading Ltd Sti, Turkish corporate records show. Since then, the company has shipped at least $660,000 worth of products made by U.S. semiconductor makers, according to Russian customs records.