Two Irish citizens named on US sanctions list

Two Irish citizens have been named on a new US Treasury Department sanctions list against 130 firms and individuals it alleges have conducted business operations with Russia. Liam Eoin Fraher and Dermot O’Reilly, who both hold senior positions at ARX Financial Engineering Limited (ARX), a financial firm headquartered in Dubai, were named as Specially Designated Nationals in the list issued by the department’s Office of Foreign Assets Control (OFAC). US sanctions are aimed at disrupting Russia’s ability to purchase electronics and hardware that could be used to manufacture military equipment for its war in Ukraine, as well as targeting financial…