On March 11, 2022, President Joseph Biden issued an Executive Order (EO) announcing further prohibitions on imports, exports and new investments related to Russia. This announcement was made at the same time that the president and the other G7 leaders of Canada, France, Germany, Italy, Japan and the United Kingdom, as well as the European Union, announced new economic actions which will revoke Russia’s “Most Favored Nation” status (see Update of March 12, 2022) and efforts to deny borrowing … Read the rest
It has been almost three weeks since the U.S. and its allies began imposing serious new sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine. This post summarizes the state of affairs as of Friday, March 11, 2022.
Please reach out to our team if you have any questions about these or future developments.
Current Status & What’s New
The current sanctions measures still do not amount to a full embargo on Russia, and Russia has … Read the rest
This UPDATED post summarizes the situation as of late evening on Thursday, February 24, concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This supplements our post of late evening on Wednesday, February 23, which is available here.
As of late evening on Thursday, February 24, OFAC has taken the following additional actions, as follows:
Multiple additional banks were designated as SDNs. Most prominently, OFAC designated VTB Bank Public Joint Stock Company (VTB Bank), which is … Read the rest