As the Russian invasion of Ukraine has escalated over the past few weeks, the United States has responded with increasingly powerful economic sanctions, targeting key sectors of the Russian economy.
In the wake of Russia's incursion into Ukraine, the United States has over the past several days imposed a series of unprecedented economic sanctions and export controls designed to prevent.
Economic restrictions applicable to dealings with Russia continue to tighten on the basis of events in the Ukraine conflict, and the U.S. Justice Department has announced a new task force.
On March 2, 2022, the Department of the Treasury's Office of Foreign Assets Control (OFAC) provided clarifying guidance on the implementation of several of its sanctions involving Russia.
Banks and other financial institutions here will be banned from doing business with four Russian banks, as part of sanctions the Republic is imposing to hit the Russian economy for the invasion of Ukraine.