New US sanctions against Russia
20 June 2024
On June 12, 2024 the Office of Foreign Assets Controls (OFAC) of the US Treasury issued new sanctions and export controls in relation to the Russia-Ukraine conflict.
The new sanctions mainly include:
- extending the applicability of so-called secondary sanctions against foreign financial institutions;
- bans on the provision of IT services and software to Russian companies and entities;
- the addition of a further 300 individuals and entities both inside and outside Russia, including in Asia, the Middle East, Europe, Africa, central Asia and the Caribbean, whose products and service enable Russia to pursue its war aims and to elude sanctions.
On the same date, OFAC issued new General Licenses (GL) and new Frequently Asked Questions (FAQS) clarifying some aspects of the new restrictive measures.
Read the news.
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