The U.S. has lifted sanctions against a former Oschadbank executive and a financier with Russian citizenship
On June 11, 2026, the U.S. Department of the Treasury removed two individuals—Serhiy Maltsev and Olga Raikes—from the SDN sanctions list.
Sergey Maltsev previously served as deputy chairman of the board at Sberbank and was responsible for the sales network.
He was added to the U.S. sanctions list on May 8, 2022, along with other executives in the Russian banking sector. He subsequently left his position at Sberbank.
Olga Raikes, co-founder of the multi-family office CONFIDERI and a citizen of both Russia and Israel, has also been removed from the sanctions list. She was sanctioned due to her activities in the financial sector of the Russian economy.
The OFAC statement notes that both names have been officially removed from the Specially Designated Nationals (SDN) list. Along with this, other related entries in the sanctions registry have been updated.
It is worth noting that OFAC has recently been pursuing a policy of so-called “sanctions modernization,” reviewing existing restrictions and removing from the lists individuals and entities for whom it no longer sees grounds for maintaining sanctions status.
The decision to remove Sergey Maltsev and Olga Raikes took effect on June 11, 2026, following the official update of the OFAC sanctions list.
The relevant changes were announced by the Office of Foreign Assets Control (OFAC).
