U.S. Escalates Russia-Related Sanctions
Highlights
The U.S. established sanctions on the Donetsk People’s Republic and Luhansk People’s Republic separatist regions of Ukraine that are similar in scope to the existing sanctions on the Crimea Region
The Biden administration also announced additional sanctions on Russian sovereign debt, two Russian banks and 42 of their subsidiaries, and five individuals with ties to the Kremlin, with other severe economic measures promised should Russia further invade Ukraine
Companies should review existing business activities involving Russia and Ukraine and prepare for swift changes to U.S. sanctions and export controls
In response to Russia’s recognition of the so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) separatist regions of Ukraine and Russian troop deployment to these regions, the U.S. has imposed new blocking and sovereign debt sanctions, as well as new geographic region-based trade embargoes.
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