Biden’s Executive Order 14024 due to Russia’s invasion of Ukraine Office of Foreign Assets Control OFAC restrictions on economic activity with Russia, FinTechs Learn from Previous OFAC Actions
The U.S. responded to the Russian-Ukraine conflict by blocking certain Russian financial institutions and individuals, and imposing varying degrees of sanctions prohibitions on other listed Russian banks and entities, pursuant to the 50 Percent Rule.
On February 21 and 22, in response to escalating Russian aggression toward neighboring Ukraine, the United States, European Union, and United Kingdom (1) announced initial sanctions targeting Russia.
In February 2014, the Revolution of Dignity or Maidan revolution in Ukraine resulted in the ousting of Ukrainian President Viktor Yanukovych. In the months that followed, Russia annexed.
On 24 February 2022, the United Kingdom announced that asset freezes had been imposed on VTB Bank, 5 state-owned defence enterprises and 5 individuals. Also, it was announced that asset.