U.S. Leads with Additional Sanctions against Russia, Targeting Putin’s Inner Circle

  On April 6, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated seven Russian oligarchs and 12 companies they own or control, 17 senior Russian government officials, and a state-owned Russian weapons trading company and its subsidiary, a Russian bank.[1] Simultaneously with the action, OFAC issued two general licenses (General Licenses 12[2] and 13[3] as well as related FAQs)[4] to minimize immediate disruptions to U.S. persons, partners, and allies. The designation freezes all assets subject to U.S. jurisdiction of the designated individuals and entities, and of any other entities blocked by operation of law as a result of their ownership by a sanctioned party.  U.S. persons are generally prohibited from dealings with them as well as with entities owned 50% or more by them directly or indirectly, unless authorized by an OFAC license.  U.S. persons must block the property and interests in property of the SDNs…

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