Russian businessman pleaded guilty to violating US sanctions laws

US NEWS

The Russian citizen and his engineering company agreed to the accusations that they violated US national security laws.

Oleg Nikitin, CEO of St. Petersburg-based KS Engineering, has pleaded guilty to conspiracy to evade export regulations and defrauding the United States, Acting Attorney for the Southern District of Georgia David Estes said.

According to the prosecution, Nikitin and other defendants in this case conspired to violate the International Emergency Economic Powers Act and the 2018 Export Control Reform Act.

As a result of the plea, Nikitin faces up to five years in federal prison and significant fines and confiscations.

“Oleg Nikitin tried to evade trade sanctions designed to protect the United States from illegal acquisition of industrial equipment by non-aligned countries,” said Acting Attorney Estes. “We will make the most of our country’s resources to vigorously defend against those who threaten our national security.”

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