Kelley Drye: US Imposes New Russia Sanctions Targeting Banks, Investments, Services, and Officials; EU Announces Fifth Round of Sanctions | Practical Law

Kelley Drye: US Imposes New Russia Sanctions Targeting Banks, Investments, Services, and Officials; EU Announces Fifth Round of Sanctions | Practical Law

On April 6, 2022, the US imposed broad new sanctions on Russia in response to the continuing conflict in Ukraine. The new measures include full blocking sanctions on two of the largest banks in Russia, a ban on new investment on any sector of the Russian economy, and blocking sanctions on additional Russian elites. A new Executive Order issued by President Biden authorizes the US Office of Foreign Assets Control (OFAC) to impose a ban on the provision of certain services to Russia in the future, and the White House announced that OFAC would impose additional blocking sanctions on a raft of Russian state-owned enterprises on April 7, 2022.

Kelley Drye: US Imposes New Russia Sanctions Targeting Banks, Investments, Services, and Officials; EU Announces Fifth Round of Sanctions

by Kelley Drye & Warren LLP
Published on 08 Apr 2022 • USA (National/Federal)
On April 6, 2022, the US imposed broad new sanctions on Russia in response to the continuing conflict in Ukraine. The new measures include full blocking sanctions on two of the largest banks in Russia, a ban on new investment on any sector of the Russian economy, and blocking sanctions on additional Russian elites. A new Executive Order issued by President Biden authorizes the US Office of Foreign Assets Control (OFAC) to impose a ban on the provision of certain services to Russia in the future, and the White House announced that OFAC would impose additional blocking sanctions on a raft of Russian state-owned enterprises on April 7, 2022.
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