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Treasury cautions on dealing with Russian firms tied to sanctioned individuals

WASHINGTON (Reuters) - The U.S. Treasury cautioned Americans on Thursday against conducting transactions with a Russian firm that may be controlled by an individual slapped with sanctions, even if that person does not hold a majority stake.

"U.S. persons are advised to act with caution when considering a transaction with a non-blocked entity in which a blocked person has a significant ownership interest that is less than 50 percent or which a blocked person may control by means other than a majority ownership interest," a Treasury spokesperson said.

The spokesperson added that in the case of Gunvor founder Gennady Timchenko, his stake may be lower than the 50 percent required to trigger automatic sanctions on the oil trading firm.

(Reporting by Anna Yukhananov; Editing by Tim Ahmann)

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