Tag Archives: sanctions

Russia and Belarus Sanctions Update – March 15, 2022

Key Takeaways:

  • New Executive Order prohibits certain imports and exports, and authorizes the Department of the Treasury to impose significant restrictions on U.S. investment in Russia
  • Additional wave of sanctions targeting Russian “elites” close to President Vladimir Putin
  • OFAC guidance clarifies that Russia-related sanctions prohibitions apply to cryptocurrency transactions

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On March 11, 2022, President Biden signed a new Russia-related Executive Order,… More

Russia and Belarus Sanctions Update – March 11, 2022

Key Takeaways:

  • The Biden administration announces ban on import of Russian energy commodities and prohibition on new investment in the Russian energy sector
  • New General License provides wind-down period until April 22, 2022 for certain energy imports from Russia pursuant to agreements entered into before March 8, 2022
  • EU and UK expand their sanctions programs against Russia and Belarus, including additional sanctions on oligarchs
  • FinCEN issued an alert to all financial institutions to be vigilant against efforts to evade the expansive sanctions and other restrictions imposed in connection with the invasion of Ukraine

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Russia and Belarus Sanctions Update – March 7, 2022: U.S. Sanctions, Export Restrictions Escalate as Conflict in Ukraine Continues

Key Takeaways:

  • U.S. imposes additional sanctions on Russian elites, along with their family members, companies, and personal vehicles
  • Actions targeting the defense sector and Russian government-affiliated media outlets signal the expansion of U.S. sanctions to new industries
  • SWIFT access to be denied to seven Russian banks on March 12, 2022
  • New export controls target Belarus and further restrict export of items that use encryption to Russia and Belarus

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Russia Sanctions Update – February 28, 2022: U.S. Imposes Sanctions on Central Bank of Russia, Ministry of Finance, and Sovereign Wealth Funds; Switzerland and Monaco Impose Unprecedented Sanctions

Key Takeaways:

  • New Directive 4 prohibits transactions with Russian Central Bank, National Wealth Fund, and Ministry of Finance
  • Full blocking sanctions on Russian Direct Investment Fund and affiliates
  • Multi-lateral response to Russia’s invasion continues with unprecedented imposition of sanctions by Switzerland and Monaco

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On February 28, 2022, the U.S. government announced new sanctions on the Central Bank of Russia,… More

Review of Sanctions and Export Controls Imposed in Response to Russia’s Invasion of Ukraine

Key Takeaways:

  • The initial wave of sanctions targeted Russian banks and the financial industry plus individual “inner circle” elites, with more sanctions likely to follow in the coming weeks as events unfold.
  • Broad restrictions on debt and equity transactions with certain entities in the Russian financial, energy, and infrastructure sectors.
  • Expanded export controls, including foreign-direct product rule restrictions, new license requirements, and Entity List designations impact a wide range of exports to Russia.…
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