US Fact Sheet on upcoming sanctions

The White House released a memo on 24.02.2022 that fleshed out the next tranche of pending US sanctions.

These include the disconnection of Sberbank and its 25 subsidiaries from the US financial system, a comprehensive blockade of VTB Bank and its 20 subsidiaries, and the blockade of three other major banks. Furthermore, the upcoming sanctions are to include financing and capital restrictions on 13 major companies. These include Gazprom, Gazprom Neft, Transneft, Rostelecom, Alrosa, RusHydro and others.

The Biden administration has tightened export controls on technology exports to Russian companies. This is intended to deal a blow to Russia's defence, aerospace and shipping industries by restricting access to cutting-edge technology. The United States will also impose Russia-wide restrictions on sensitive U.S. technologies manufactured in other countries using U.S.-origin software, technology, or equipment, including but not limited to semiconductor, telecommunications, encryption, security, laser, sensor, navigation, avionics, and maritime technologies. More information on the goods-related restrictions can be found at this link.

Further measures have also been announced to work in parallel with the latest EU sanctions as well as sanctions imposed by other countries, such as Australia, New Zealand, Canada, the UK and Japan.

Links:

FACT SHEET: Joined by Allies and Partners, the United States Imposes Devastating Costs on Russia

New U.S. Sanctions against Russia, Autoren: Alexandra Lopez-Casero, David F. Crosby

Implementation of Sanctions Against Russia Under the Export Administration Regulations

Quellen:

The White House

Bureau of Industry and Security

Nixon Peabody LLP