In his speech on Feb. 24, 2022, President Biden announced a second wave of sanctions designed to seriously impact Russia’s financial sector and access to capital. These measures follow an initial sanctions package announced on Feb. 22, 2022, which was targeted at the so-called Donetsk People’s Republic and the Luhansk People’s Republic (collectively, the Covered Regions) as well as the sanctions relating to Nord Stream 2 issued Feb. 23, 2022.
What Are the New US Export Controls on Russia? On February 24, 2022, the US Department of Commerce, Bureau of Industry and Security (BIS) imposed new export controls.
Earlier this week, following Russia's aggressive incursion into Ukraine, we reported on the imposition of U.S. sanctions in response — a modest response that reserved the heavier sanctions that have been anticipated.
On February 24th, as part of the broader response to Russia’s invasion of Ukraine - the White House announced strict export controls as part of the Biden Administration’s strategy to.
The United States government, in partnership with allies and partners, issued new and expanded sanctions and trade controls in response to Russia’s continued invasion into Ukraine..