United States of America decided to impose sanctions against the Russian Federation
The Executive Order on Blocking Property with Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation (“Executive Order”) was published in the official website of the White House on 15.04.2021. Pursuant to the Executive Order, economic and political sanctions are imposed against the Russian Federation (“Russia”) by the United States of America (“U.S.”).
Significant sanctions imposed within the scope of the Executive Order are summarized below:
- The Secretary of Treasury and the Secretary of State are provided with the authority to block all interests in property owned by designated people and entities, either the property is in the U.S. or controlled by a U.S. person. In addition, it is prohibited to make any economic contribution or provide any service to the designated people and entities.
- In line with this, the Secretary of Treasury prohibited U.S. financial institutions to buy bonds issued after June 14, 2021 by the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation. Furthermore, U.S. financial institutions are also prohibited from lending to these three entities.
You may find the full text of the Executive Order here.
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