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The US imposes additional restrictions and sanctions against Russia

US president Joe Biden signed a new Executive Order (E.O. 14071) on April 6th, 2022, which imposes fresh restrictions on the RF.

The new E.O. completely restricts new investments by US persons in the RF, regardless of the persons’ location. The new E.O. also prohibits the sale, supply, exportation or re-exportation, whether directly or not, by US persons (regardless of their location) or from the US, of any scope of services (to be determined by the Secretary of Treasury) to any person in the RF. This new order may be the first that provides the Treasury with the ability to expand restrictions and prohibitions on the exportation of several services to the RF, without the need for preliminary action by the US president.

In addition, following the designations of Russian Alfa-Bank and Sberbank to the SDN list that same day, together with the designation of several Russian state-owned entities the day after, OFAC issued a number of General Licenses, slightly softening the scope of the new blockings, on April 6th and 7th 2022. More information on the sanctions imposed by the US on April 6th and 7th can be found here and here.