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New Executive Order Authorizes the Imposition of Secondary Sanctions on Foreign Financial Institutions Facilitating Russia s Military-Industrial Base and Expands Import Prohibitions on Certain Russian-Origin Products | Akin Gump Strauss Hauer & Feld LLP

Key Points - On December 22, 2023, President Biden issued E.O. 14114 “Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities.” Specifically, E.O..

United statesRussian federationJanet yellinAkin gump strauss hauer feldCommerce department bureau of industryRussian federation harmful activitiesForeign financial institutionAkin gump strauss hauerPresident bidenAdditional steps with respectHarmful activitiesCompliance advisoryForeign financial institutionsAuthorities targeting supportMilitary industrial baseSecondary sanctions now applicable

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