The US Treasury Department’s Office of Foreign Assets Control ("OFAC") has imposed several new Ukraine-related sanctions as of July 16, 2014. Significantly, the new sanctions impose restrictions on certain types of dealings by US persons with specified Russian energy, defense and financial services entities. The EU has also signaled that it will make a decision on a significant expansion to its list of designated (asset-frozen) persons by the end of July. Our briefing summarizes the most recent changes.
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