The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has added new individuals to its Specially Designated Nationals and Blocked Persons List, based on specific legal criteria. These individuals have been identified as being involved in harmful foreign activities linked to the Russian Federation. Consequently, their property and interests in the U.S. are blocked, and U.S. persons cannot engage in transactions with them. One such entity is OJSC Keremet Bank from Kyrgyzstan, which has been targeted due to its significant transactions involving Russia's military-industrial sector.
Simple Explanation
The U.S. government has decided to stop some people and a bank from doing business in the country because they did something bad related to Russia. This means these people and the bank can't use their money or things in the U.S. anymore.