Ukraine Sanctions and Aid Bill Passes into Law

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On April 3, 2014, President Obama signed into law the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (the “Act”). The Act supplements the three Executive Orders authorizing sanctions on Ukrainian and Russian individuals and entities signed on March 6, 17 and 20, 2014. It authorizes the President to impose sanctions on persons deemed responsible for violence or undermining the peace, security, stability, sovereignty, or territorial integrity of Ukraine, and on persons in the Russian Federation determined to be complicit in or responsible for significant corruption in Ukraine or the Russian Federation. It also provides for aid to Ukraine, and requires an annual report on military and security developments involving the Russian Federation.

Sanctions Measures in the Act -

The Act authorizes blocking (freezing) the property and interests in property located in the United States or in the possession or control of a US Person of the following persons:

- any person, including a current or former official of the Government of Ukraine or a person acting on behalf of that Government, that the President determines has perpetrated, or is responsible for ordering, controlling, or otherwise directing, significant acts of violence or gross human rights abuses in Ukraine against persons associated with the antigovernment protests in Ukraine that began on November 21, 2013...

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Topics:  Foreign Policy, Russia, Sanctions, Ukraine

Published In: General Business Updates, 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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