News & Analysis as of

Russia Foreign Relations Financial Institutions

Hughes Hubbard & Reed LLP

The EU Adopts Broad New Sanctions Against Russia, Including 17th and 18th Packages, and Belarus Sanctions Alignment Package

The European Council ended a highly active semester on the economic sanctions front with the adoption of its 17th and 18th economic sanctions packages (Russia Sanctions Packages or Sanctions Packages) against Russia for its...more

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

Troutman Pepper Locke

U.S. Issues Warning to Foreign ‎Financial Institutions That Assist Russia’s War Machine

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On December 22, 2023, President Biden issued new Executive Order (“EO”) 14114, amending EO 14024 and EO 14068. The new EO grants the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) authority to...more

Hogan Lovells

New Russia sanctions target foreign financial institutions and imports of certain products

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On December 22, 2023, President Biden issued a new Russia-related Executive Order (“EO”) targeting foreign financial institutions (“FFIs”) that support Russia’s military-industrial base. The new EO allows the U.S. government...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎June 2022‎ #3

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On June 14, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Russia-related General License (“GL”) 8C (replacing GL 8B), which extends the temporary wind down period to December 5,...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎June 2022‎

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On June 2, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Russia-related General License (“GL”) 25B, GL 36, GL 37, and GL 38....more

Alston & Bird

U.S. Sanctions and Export Controls Against Russia Continue Expansion as Efforts to Target Sanctions Evasion Come into Clearer...

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As the Russian invasion of Ukraine enters its fifth month, the United States continues to enact economic measures to discourage Russia from continuing hostilities, as well as impair their military operations in the country. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

US, UK and EU Impose New Sanctions and Export Controls on Key Elements of Russian Economy

Since the publication of our March 24, 2022, and March 17, 2022, client alerts, the U.S., U.K. and European Union, among other allied nations, have imposed additional sanctions and export controls on key elements of the...more

McGuireWoods LLP

New Revelations in Ukraine Lead to Tightening Global Sanctions

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As the world watched in horror over the atrocities occurring in the war zones of Ukraine this week, global leaders re-doubled their efforts to bring increasing sanctions pressure to bear on Russian industry, the Russian...more

Pillsbury - Global Trade & Sanctions Law

Making Sense of Sanctions Versus SWIFT Delisting

On February 27, 2022, the U.S., UK, and EU announced their agreement that certain Russian banks would be delisted from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...more

BakerHostetler

New Key Developments in Response to Russia's Invasion of Ukraine

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The United States and the European Union imposed additional sanctions this week in response to the Russian Federation’s invasion of Ukraine and the United States announced its intention to make sanctions enforcement a...more

Cooley LLP

Evolving US, UK and EU Sanctions and Export Controls Target Russia for Ukraine Invasion

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In response to Russia’s invasion of Ukraine in February 2022, the United States, with support from its allies including the United Kingdom and the European Union, has imposed a complex mix of financial sanctions and export...more

Akerman LLP

Financial Sanctions and Export Controls Continue after Russian Invasion of Ukraine – More to come

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The United States government continues to impose significant economic sanctions and export control measures following Russia’s invasion of Ukraine. On February 24, 2022, the U.S. Commerce Department’s Bureau of Industry and...more

Blake, Cassels & Graydon LLP

Le Canada impose de nouvelles sanctions de vaste portée et d’autres mesures économiques contre la Russie

Les 24 et 28 février 2022, le gouvernement du Canada a annoncé de nouvelles sanctions économiques de grande portée ainsi que d’autres mesures ciblant la Russie, en rapport avec l’escalade de l’attaque par cette dernière...more

Morgan Lewis

Update: Russia Adopts Special Decree on Countermeasures

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President Vladimir Putin issued a decree, “On Special Economic Measures in connection with the Unfriendly Actions of the United States of America and Other Foreign Countries” (Decree), on 28 February. This is the first decree...more

Blake, Cassels & Graydon LLP

Canada Imposes Extensive New Sanctions and Other Economic Measures Against Russia

On February 24, 2022, and February 28, 2022, the Government of Canada announced wide-ranging new economic sanctions and other measures targeting Russia in connection with the escalating conflict in Ukraine. These...more

Latham & Watkins LLP

Sanctions Update: US, UK, and EU Impose Sweeping New Sanctions Relating to Russia, Ukraine, and Belarus

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New rules significantly expand the scope of existing Ukraine- and Russia-related sanctions and impose stringent export controls on Russia. This Client Alert is published in the context of fast-moving developments....more

The Volkov Law Group

Biden Administration Ratchets Up Russia Sanctions

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The Biden Administration announced new and significant trade sanctions against Russia.  The action was long expected given the Biden Administration’s criticism of Russia, and was a comprehensive response to Russia’s...more

American Conference Institute (ACI)

[Webinar] Latest Economic Sanctions Developments to Watch in 2020 and Beyond - May 14th, 1:00 pm - 2:00 pm EST

Join leading industry leaders who will discuss the latest developments in the economic sanctions regulatory landscape. They will share perspectives & insights on what’s going on, what’s ahead & what to watch out for....more

Jones Day

United States Imposes Sanctions on Russia; More Significant Sanctions Possible

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The Situation: The U.S. government imposed initial sanctions on Russia under the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991. The sanctions relate to the March 2018 attempted assassination of...more

Sheppard Mullin Richter & Hampton LLP

Lurches, Leaps, Feints, and Flops: Movements Without Motion in Russian Sanctions Policy

Since the U.S. Government determined that Russia interfered in the 2016 election, movement around Russia sanctions policy has been vigorous, if not unidirectional. In 2016, the United States implemented twice sanctions...more

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