Further U.S. sanctions against Russia for conflict in Ukraine

Continued sanctions, new executive order, updated SDN list, Russia-related general licenses

Continued sanctions, executive order, updated SDN list, Russia-related general licenses

The United States today announced further sanctions against Russia due to the ongoing conflict in Ukraine.

United States, G7, EU continued sanctions

A White House release announces that the United States, along with the G7 countries and the European Union, will continue to impose “severe and immediate economic costs” on the Putin regime for its “atrocities in Ukraine.”

New executive order

U.S. Treasury issued a release announcing that today President Biden is issuing an executive order—Prohibiting New Investment in and Certain Services to the Russian Federation in Response to Continued Russian Federation Aggression—to ban:

  • All new investment in Russia by U.S. persons, wherever located
  • The exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a U.S. person, wherever located, of any category of services as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State, to any person located in Russia

Updated SDN list

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) updated its list of “specially designated nationals.”

Russia-related general licenses

OFAC today issued the following Russia-related general licenses.

  • General License 8B [PDF 261 KB]—Authorizing transactions related to energy
  • General License 9B [PDF 146 KB]—Authorizing transactions related to dealings in certain debt or equity
  • General License 10B [PDF 265 KB]—Authorizing certain transactions related to derivative contracts
  • General License 21 [PDF 229 KB]—Authorizing the wind down of Sberbank CIB USA, Inc.
  • General License 22 [PDF 256 KB]—Authorizing the wind down of transactions involving public joint stock company Sberbank of Russia
  • General License 23 [PDF 113 KB]—Authorizing the wind down of transactions involving joint stock company Alfa-Bank

For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
E: ivaysfeld@kpmg.com

Amie Ahanchian
E: aahanchian@kpmg.com

Christopher Young
E: christopheryoung@kpmg.com

Gisele Belotto
E: gbelotto@kpmg.com

George Zaharatos
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
E: jlibby@kpmg.com

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