Russia Sanctions Update: OFAC Issues Guidance on “New Investment” and Management Consulting Bans

OFAC has also extended certain general licenses, while BIS has continued to restrict exports to Russia.

This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham & Watkins Client Alerts published on June 15, June 10, May 13, April 12, March 11, March 8, March 1, and February 25.

This Client Alert summarizes the latest sanctions and trade restrictions that the US has imposed, and the guidance OFAC has issued in support of those restrictions. Different jurisdictions are introducing new sanctions, export restrictions, and other legal and regulatory measures on a regular basis. Companies exposed to sanctions-related developments in Russia should obtain up-to-date legal advice before taking any steps that may have legal effects.

Please see full Alert below for more information.

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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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