E.O. 14024”) on April 15, 2021, expanding sanctions against Russia. E.O. 14024 authorizes, for the first time, U.S. sanctions against Russian technology companies and, through Directive 1 thereunder, expands prohibitions on dealings relating to Russian sovereign debt. On the same day, the U.S. Treasury Department’s Office of Foreign Assets Control (“
OFAC”) added numerous individuals and entities to its Specially Designated Nationals and Blocked Persons List (the “
SDN List”) pursuant to Russia sanctions authorities.
E.O. 14024
E.O. 14024 establishes broad authority for additional sanctions targeting Russia. It authorizes blocking sanctions against a wide range of individuals and entities, including, most notably, persons determined to:
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Recently, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned various individuals and entities connected to Russia’s technology sector and also expanded sanctions against dealings in Russian sovereign debt. In addition to these immediate actions, President Biden also issued a new Executive Order which will significantly expand OFAC’s authority to impose future sanctions against Russia.
Background
The White House published a Fact Sheet which explains the recent sanctions actions were a response to Russian election interference and cyber-attacks directed at the United States. A month prior to these sanctions actions, the U.S. National Intelligence Council issued its Foreign Threats to the 2020 U.S. Federal Elections report, which officially concluded that a range of Russian government organizations had attempted to influence the 2020 U.S. presidential election by promoting “misle
UNAIDS
The Epidemiological Well-Being international conference, which will draw attention to the need for stronger health systems and preparedness against epidemics in the light of the colliding COVID-19 and HIV pandemics, opened today in Moscow, Russian Federation. The aims of the conference include discussions on the progress made against infectious diseases globally, highlighting interim results for reaching the goal of ending AIDS by 2030 and coming up with recommendations for sustainable approaches to combating infectious diseases.
The conference was opened by Anna Popova, Head of the Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing (Rospotrebnadzor), who emphasized the importance of effective international cooperation. “In a critical situation of the rapid spread of the new coronavirus, countries around the world rallied for one goal-to defeat a common enemy, the COVID-19 pandemic. We realized how important it is to maintain a constant dial
President Biden Directs New Sanctions in Response to Russian Cyberattacks, Election Interference | Wiley Rein LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
MARKET SIGNALS 04.20.2021
IDEA #1: RUSSIA 28
The most liquid issue on the Moscow Exchange in the line of Eurobonds of the RF Ministry of Finance. The yield spread to UST remains wide (50 bp) relative to the dock levels, which creates potential for further price growth. Unlike Eurobonds of Russian banks and corporations, the bonds of the Ministry of Finance are completely devoid of ruble risk: when selling (redeeming) sovereign Eurobonds, the income in the form of exchange rate differences is exempted from paying personal income tax. From this point of view, sovereign Eurobonds are quite comparable to direct investment in dollars or euros (while the holder of the Eurobond also receives a coupon income). Due to the sanctions, the RF Ministry of Finance does not place new dollar-denominated eurobonds, which creates a shortage of securities with Russian sovereign risk as the issues mature. The peculiarity of the Eurobond maturing in 2028 is that, due to its very high coupon rate (12.7