By Executive Order of 15 April 2021, the US Administration has imposed new sanctions on Russia.
The US government cites the following reasons for the sanctions: cyber-attacks on the US government and private companies, Russian interference in the 2020 elections and Russia’s destabilising international actions (although there is talk of possible collaboration with the Taliban, the underlying cause is the growing tension on Ukraine’s eastern border).
The sanctions basically consist of the following:
- Financial sanctions: US financial institutions are banned from participating in the primary market for bonds issued after 14 June 2021 by the Central Bank of Russia and other Russian state entities and US financial entities are also banned from lending to such entities.
- Designated persons: 16 natural persons (including some from the Presidential Administration) and 16 legal persons (mainly technology companies) are named. All property of these persons in the United States or owned or controlled by US Persons is blocked, as well as the property of entities 50% or more controlled by the designated persons. In addition, unless authorised by OFAC, US Persons may not engage in any transactions with the designated persons or in relation to their property or interests.
This has been accompanied by the expulsion of a dozen Russian diplomats.
Russia has already announced reciprocal response measures.
The European Union and other states (Canada, United Kingdom, etc.) and countries have expressly supported the US measures.
For the EU, the growing tension in eastern Ukraine is of great concern, and it is not inconceivable that if the situation worsens it will increase its sanctions against Russia.
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