US Imposes Sectoral Sanctions on Russian Financial and Energy Companies, Expands Ukraine-Related Designations and Adds Further Restrictions on Exports to Russia | White & Case LLP International Law Firm, Global Law Practice
US Imposes Sectoral Sanctions on Russian Financial and Energy Companies, Expands Ukraine-Related Designations and Adds Further Restrictions on Exports to Russia

US Imposes Sectoral Sanctions on Russian Financial and Energy Companies, Expands Ukraine-Related Designations and Adds Further Restrictions on Exports to Russia

White & Case Ukraine News Update

On July 16, 2014, the United States issued new sanctions targeting the Russian financial and energy sectors in response to the ongoing unrest in Ukraine. The new sectoral sanctions target four Russian companies by placing them on a new Sectoral Sanctions Identifications List (SSI List)1 pursuant to Executive Order 13662 (EO 13662), which was signed on March 20, 2014.2 The United States also added new individuals and entities to the List of Specially Designated Nationals and Blocked Persons (SDN List). Both lists are administered by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). Finally, the United States imposed further export control restrictions on exports to certain Russian entities.

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