Economic sanctions, when imposed by a regime, have the purposes of advancing national security, foreign policy or economic goals. Sanctions can take multiple forms, including restrictions on investment, restrictions on trade,...more
Despite the imposition of sanctions by the U.S. and EU since March, Russia had not retaliated economically until imposing the August 7 import ban on meat, fish, vegetables and dairy products from the U.S., EU, Canada,...more
President Obama announced yesterday the creation of the new Sectoral Sanctions Identification List (“SSI List”) issued pursuant the Russian sanctions program and the addition of two Russian energy companies and two Russian...more
7/18/2014
/ Banking Sector ,
Banks ,
Barack Obama ,
EU ,
Executive Orders ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
SSI List ,
UK
Last week French bank BNP Paribas (BNPP) became the latest financial institution to be penalized for violating the OFAC sanctions programs. BNPP was accused of processing thousands of transactions through U.S. banks for...more
Today, the Donetsk and Luhansk regions in eastern Ukraine held referundums on whether to declare independence from the rest of the country. The U.S. and EU view the referendums as heavily influenced by Russia and contrary to...more
The U.S., the EU, Ukraine and Russia met in Geneva on Thursday, April 17 and hammered out a deal to de-escalate tensions in eastern Ukraine. While this development is welcome news, U.S. companies should not celebrate just...more