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On June 3, 2021, President Biden issued a new executive order (E.O.), “Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of.
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On April 15, 2021, following discussions just days earlier of a
potential summit between President Biden and Russian President
Putin and as Russian troops amassed along the Ukrainian border, the
Biden Administration
issued long-awaited and highly anticipated sanctions against
Russia, including a far-reaching new executive order
(
E.O. ), Blocking Property With
Respect To Specified Harmful Foreign Activities Of The Government
Of The Russian Federation, which authorizes sanctions on any person (individual or entity) determined to meet an
expansive array of criteria related to the Russian Federation s
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On April 15, 2021, following discussions just days earlier of a potential summit between President Biden and Russian President Putin and as Russian troops amassed along the Ukrainian border, the Biden Administration issued long-awaited and highly anticipated sanctions against Russia, including a far-reaching new executive order (“
E.O.”), “Blocking Property With Respect To Specified Harmful Foreign Activities Of The Government Of The Russian Federation,” which authorizes sanctions on any “person” (individual or entity) determined to meet an expansive array of criteria related to the Russian Federation’s involvement in, among other things, election interference, political destabilization, cyber-enabled activities, and corruption.
I. Overview
With just one week remaining in his term, President Trump amended Executive Order (“
EO”) 13959, which prohibits U.S. persons from investing in the securities of Chinese Military Companies (“
CMCs”), to continue his aggressive stance toward such CMCs. The amended EO now generally prohibits all transactions (rather than just investments) in CMC securities and requires U.S. persons to divest themselves of all such securities by November 11, 2021, and within 365 days for future listed CMCs. We discussed the earlier version of EO 13959 at length in a previous client alert, and OFAC’s interpretations of key terms (which generally remain valid) in another client alert.