IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 08 May 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 8 May 2022, the U.S. Department of Treasury imposed sanctions on twenty-two Russian entities said to be critical to Russia’s ability to attack Ukraine. Specifically, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) added these entities to the Specially Designated Nationals and Blocked Persons List (SDN List). The U.S. Treasury blocked all properties of these entities and prohibited U.S. persons from transacting with these entities.

These entities include a Russian state-owned bank, Joint Stock Company Moscow Industrial Bank (MIB), as well as its subsidiaries; a state-supported weapons manufacturer, Limited Liability Company Promtekhnologiya; and three Russia’s state-controlled television stations, namely Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company.

The U.S. Treasury also imposed sanctions on executives of several Russian financial entities including Sberbank and Gazprombank.

AFFECTED COUNTRIES

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