ANNOUNCEMENT 28 Jun 2022

In June 2022, the U.S. Treasury announced prohibiting the importation of Russian gold due to their invasion of Ukraine.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury, “Determination Pursuant to Section 1(a)(i) Of Executive Order 14068 - Prohibitions Related to Imports of Gold of Russian Federation Origin”. Available at: https://home.treasury.gov/system/files/126/determination_06282022_eo14068.pdf

U.S. Department of Treasury, Press Release, “U.S. Treasury Sanctions Nearly 100 Targets in Putin’s War Machine, Prohibits Russian Gold Imports”. Available at: https://home.treasury.gov/news/press-releases/jy0838

Inception date: 28 Jun 2022 | Removal date: open ended

Import ban

On 28 June 2022, the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury announced that the importation of Russian gold into the United States is prohibited. This decision is taken in coordination with the other G7 allies to demonstrate their support for Ukraine.

This decision is based on Executive Order 14068 of 11 March 2022 on “Prohibiting Certain Imports, Exports, and New Investment with respect to Continued Russian Federation Aggression” (see related state act).

AFFECTED SECTORS

 

AFFECTED PRODUCTS