US Government Further Restricts Transactions and Trade with Russia, Belarus, as Russian Countermeasures Grow
On March 2, OFAC issued four general licenses that authorize certain transactions involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation. Directive 4 (also referred to as the Russia-related Sovereign Transactions Directive) prohibits U.S. persons from engaging in any transactions with these entities. In addition, OFAC added new FAQs and updated existing FAQs to explain recent sanctions.
On March 3, OFAC added a number of individuals and entities to the Specially Designated Nationals List. The sanctions are aimed at Russian elites and their families, individuals and entities connected to Russia’s efforts to spread disinformation, and Russian defense enterprises.
On March 4, OFAC issued three new FAQs clarifying General License 8A, which authorizes energy-related transactions.
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