In Short
The Situation: On April 15, 2021, the United States issued a new executive order and related directive imposing additional sanctions on Russia that target dealings in Russian sovereign debt, the technology and defense sectors of the Russian economy, and the Russian government and its agents.
The Result: Expanding on existing sanctions, the United States imposed focused restrictions on participating in certain ruble and non-ruble denominated bond and debt transactions with the Russian government, imposed blocking sanctions on several Russian technology companies, and laid the groundwork for future sanctions.
Looking Ahead: U.S. financial institutions and companies should carefully review ongoing or prospective dealings in Russian sovereign debt or targeted sectors of the Russian economy in order to ensure compliance with these new sanctions and to prepare themselves for potential additional prohibitions. A White House press release warned that additional technology and so
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On 15 April 2021, the U.S. Government announced a number of new sanctions measures against Russia, targeting a variety of “harmful foreign activities” contrary to U.S. foreign policy. Specifically, the U.S. Government added several parties to the SDN List and issued a new Executive Order, expanding the basis for additional designations in the technology and defense sectors, as well as a new directive imposing targeted financial sanctions related to Russian sovereign debt.
On 15 April 2021, the U.S. Government announced a number of new sanctions measures against Russia, targeting a variety of “harmful foreign activities” contrary to U.S. foreign policy. In addition to designating a number of entities on the List of Specially Designated Nationals and Blocked Persons (SDN List) under existing authorities, President Biden issued Executive Order (EO) 14024, expanding the basis additional designations, including ex