In October, Hermitage Capital, a US hedge fund, filed a complaint with the US Department of the Treasury alleging that the US-based medical equipment unit of Koninklijke Philips NV, the Dutch electronics maker, sold equipment to a Russian company headed by an individual sanctioned under the Magnitsky Act. Philips has begun an internal investigation into the allegations and reworked its distribution contacts. US government officials have not commented.

The Magnitsky Act was passed in December of 2012. That law bars US persons from transacting business with designated Russian officials linked to the death in police custody of Sergei Magnitsky, a Russian lawyer employed by Hermitage Capital who was investigating a tax fraud scheme. The US has placed 18 Russian citizens on the Magnitsky sanctions list.

A Reuters article regarding this issue

A Financial Times article regarding this issue