Ukraine Crisis: US Expands Sanctions to Target Certain Russian Business Interests, Broadens Framework For Future Sanctions

Explore:  Russia Sanctions Ukraine

US blocks the property of one Russian bank and 20 individuals, and a new US Executive Order authorizes future sanctions against various Russian industries.

In the latest round of US sanctions responding to the political crisis in Ukraine, the White House broadened the scope of individuals targeted and added the first business entity to the list of designated persons. While the first and second rounds of US sanctions targeted government and military figures, the latest measures also designate four private individuals and one bank, each with extensive business interests and close ties to the Russian political leadership. Concurrent with these new designations, US President Barack Obama issued a new Executive Order (EO) establishing an extremely broad framework for possible future sanctions on important sectors of the Russian economy.

These new US sanctions accompany similar measures that have been imposed by the European Union, the Government of Canada and other governments. These other sanctions, along with countermeasures implemented by the Government of Russia, continue to evolve and expand, principally through additional designations of targeted persons.

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Topics:  Russia, Sanctions, Ukraine

Published In: Elections & Politics Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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