A Quick List of New Sanctions Related Regulations on Russia Since the Invasion of Ukraine
Updated: Apr 28
Now that Russia has invaded Ukraine, many countries - including the U.S. - have reacted with immediate economic sanctions. The Office of Foreign Assets Control (OFAC) facilitates most of the U.S.'s major sanction programs. Below is a list of sanctions and subsequent general licenses that were imposed in direct response to the invasion of Ukraine.
February 24, 2022
Executive Order 14024 - Blocking Property with Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation (Originally signed April 15,2021)
Russia-related Directive 2 - Prohibitions Related to Corresponding or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions
Russia-related Directive 3 - Prohibitions Related to New Debt and Equity of Certain Russia-related Entities
General License 5 - Blocking Property with Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation
General License 6 - Transactions Related to the Exportation or Reexportation of Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates, or the Coronavirus Disease 2019 Pandemic
General License 7- Authorizing Overflight Payments, Emergency Landings and Air Ambulance Services
General License 8 - Authorizing Transactions Related to Energy
General License 9 - Authorizing Transactions Related to Dealings in Certain Debt or Equity
General License 10 - Authorizing Certain Transactions Related to Derivative Contracts
General License 11 - Authorizing the Wind Down of Transactions Involving Certain Blocked Persons
General License 12 - Authorizing U.S. Persons to Reject Certain Transactions
Additionally, Belarus General License 6 and General License 7 were issued on this day. Over 90 new entries to OFAC's Specially Designated Nationals and Blocked Persons List of Russian and Belarusian nationals.
February 25, 2022
Four Russian individuals were added to the SDN List, including Russian President Vladimir Putin and the Minister of Foreign Affairs of the Russian Federation.
February 28, 2022
In response to Executive Order 14024, OFAC issued Russia-related Directive 4, "Prohibitions related to transactions involving the Central Bank of the Russian Federation..."
OFAC also issued Russia-related General License 8A, "Authorizing Transactions Related to Energy."
Learn more about OFAC today - for free! Details below.
We have dozens (literally!) of videos in our educational library on our You Tube channel related to importing, exporting, US Customs, BIS, OFAC, FDA, NFTs, and so much more. Subscribe to our channel now to stay up to date on the latest on these topics!
Our law firm helps growing companies who import and export comply with government regulations. We love what we do and we take our oath of confidentiality over your matters very seriously. How much? Watch this video to learn about it. CLICK HERE
Wondering "why should you have an attorney on your side?" Click here to watch one of our attorneys, Susan Steinman, break down the critical benefits as to why you want to have one on your side - whether you hire us to help you or another law firm.
Have questions? We are determined to help you.
We listen carefully to clients to ensure our understanding of the legal issues at hand, their factual context, and any limitations that might impact a chosen strategy. Feel free to connect with us using the contact form at the bottom of the Home page or send us an email at email@example.com.