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
On February 22 and 23, 2022, the Biden Administration announced additional sanctions on Russia. The first group of sanctions was announced on February 22, following Russia’s recognition.
In a move coordinated with U.S. allies, the United States imposed a “first tranche” of sanctions on Russia today following that country’s recognition of the Donetsk People’s Republic.
On February 22, 2022, the United States announced and implemented new economic sanctions targeting the Russian Federation’s financial services sector and persons that operate in the.
<p><span>Today, the United States is taking action to respond to President Vladimir Putin’s decision to recognize the so-called Donetsk and Luhansk People’s Republics (DNR and LNR) as “independent” states and to deploy troops to these regions by sanctioning two major Russian state-owned financial institutions, imposing additional restrictions on Russian sovereign debt, and sanctioning five Kremlin-connected elites. This action from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) builds on yesterday’s </span><a href="https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDAsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjAyMjIuNTM4MjcyODEiLCJ1cmwiOiJodHRwczovL3d3dy53aGl0ZWhvdXNlLmdvdi9icmllZmluZy1yb29tL3ByZXNpZGVudGlhbC1hY3Rpb25zLzIwMjIvMDIvMjEvZXhlY3V0aXZlLW9yZGVyLW9uLWJsb2NraW5nLXByb3BlcnR5LW9mLWNlcnRhaW4tcGVyc29ucy1hbmQtcHJvaGliaXRpbmctY2VydGFpbi