NEWS

U.S. imposes new sanctions on Russia


On 2 August 2019 the U.S. Department of State announced new sanctions opposing financial assistance to Russia by international financial institutions, banning loans to Russia from U.S. banks, and adding export licensing restrictions. These new sanctions are pursuant to Executive Order (E.O.) 13883, released by the U.S. President on 1 August 2019 and published in the Federal Register on 5 August 2019. E.O. 13883 is related to the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (“CBW Act”). In accordance with the CBW Act and E.O. 13883, on 3 August 2019 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a Russia-related Directive and new FAQs (see OFAC's recent actions).

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