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Friday, April 23, 2021
On April 15, 2021, the US announced a marked expansion of sanctions against Russia and President Biden issued a new Executive Order authorizing the imposition of yet more sanctions. The sanctions include restrictions on certain transactions involving Russian sovereign debt, as well as the designation of 46 individuals and entities implicated in Russia’s annexation of Crimea, foreign election interference and the SolarWinds cyberattack. The new Executive Order provides broad authority to impose additional sanctions should the Biden Administration decide to do so.
Executive Order 14024
Executive Order 14024 Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation, authorizes sanctions on a range of persons, including, among others, those operating in the technology and defense and related materiel sectors of the Russian Federation economy, and in any additional sectors of the Russian Fe
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On April 15, 2021, President Joe Biden issued Executive Order 14024, titled the “Executive Order on Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation,” which authorized new sanctions on Russia for a variety of “malign” activities, including interference in U.S. elections, cyberattacks against the U.S. and violations of the territorial integrity of other countries. On the same day, the Biden administration imposed a range of blocking sanctions against Russian individuals and entities both pursuant to the newly issued executive order and under certain previous executive orders and issued a new directive prohibiting U.S. financial institutions from engaging in certain transactions in Russian government debt.
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On April 15, 2021, President Biden issued an Executive Order
(found here), Blocking Property with Respect to
Specified Harmful Foreign Activities of the Government of the
Russian Federation. This Executive Order implements new
sanctions on Russia in response to Russia s cyber attacks,
involvement in transnational corruption, interference in the 2020
U.S. presidential election, pursuit of extraterritorial activities
against journalists and dissidents, and other anti-democratic
violations of international legal principles. According to the
White House, the goal of these sanctions is to impose economically
impactful costs on Russia as a result of its destabilizing
any other sector of the Russian economy;
Harmful Interference:
Engaged or attempted to engage in certain harmful foreign activities for the benefit of the Russian government, such as cyber activities, U.S. election interference, assassination attempts etc.;
High Level Officials:
Past or current leader, official, senior executive officer or board member of the Russian Government or other entities described in (2) above;
Government Agency:
Family Members:
Spouse or adult child of any person whose property and interest in property are blocked pursuant to (2) or (3) above;
Material Support:
Persons who provide material support for any activity described in (2) above or any person blocked pursuant to this E.O.;