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The U.S. responded to the Russian-Ukraine conflict by blocking certain Russian financial institutions and individuals, and imposing varying degrees of sanctions prohibitions on other listed Russian banks and entities, pursuant to the 50 Percent Rule.
On February 25 and 28, 2022, the US Treasury Department, Office of Foreign Assets Control (OFAC) issued its fifth and sixth actions against Russia, blocking the assets of President...
<p><span>The United States took significant and unprecedented action to respond to Russia’s further invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system. The</span><b> </b><span>U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today imposed expansive economic measures, in partnership with allies and partners, that target the core infrastructure of the Russian financial system — including all of Russi...
Key Points CBP has issued a “region-wide” WRO on cotton and tomato products “grown or produced” by entities “operating in” the XUAR. In a press release, CBP states that the order covers “apparel, textiles, tomato seeds, canned tomatoes, tomato sauce, and other goods made with cotton and tomatoes.” Unless or until the agency clarifies the scope of the order, and consistent with the underlying statute, importers should anticipate that CBP will enforce the WRO broadly to any imported cotton or tomato product that was sourced, produced, refined, or manufactured, in whole or in par...