On March 8, 2022, the White House issued a new Executive Order, “Prohibiting Certain Imports and New Investments with Respect to Continued Russian Federation Efforts to Undermine the Sovereignty and Territorial Integrity of Ukraine” (“Energy-Related EO”), that, among other things, bans the import into the United States of certain Russian-origin energy products and new investments in the Russian energy sector. A new import, export, and investment ban on additional Russian sectors will be addressed via…
On March 2, 2022, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued two new Russia-related general licenses, reissued two existing general licenses, and published and updated several frequently asked questions (“FAQs”) clarifying various aspects of the Russia-related sanctions imposed over the past weeks. In addition, on March 3, 2022, OFAC issued another new Russia-related general license and designated additional parties to the Specially Designated Nationals and Blocked Persons List (“SDN List”). We summarize…
On February 28, 2022, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued a number of additional sanctions measures against Russia. The latest measures include the issuance of (i) Russia-related Directive 4 (“Directive 4”), expanding restrictions on Russian state-controlled financial instructions under the April 2021 Executive Order 14024 (“EO 14024”) and (ii) Russia-related General License No. 8A (“GL 8A”), amending and replacing previous General License No. 8. OFAC also added key Russian state-controlled…
On February 24, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued additional expansive sanctions on Russia in response to Russia’s further invasion of Ukraine (these sanctions are in addition to the significant export controls on Russia implemented by the US Commerce Department’s Bureau of Industry & Security on February 24, 2022, which are discussed in a separate blog post, here). A press release (“Russia-Related Press Release”) from the US…