US Clarifies Sanctions Provisions and US Senate Passes a Bill to Codify and Expand Sanctions

December 12, 2014

As noted in previous updates, the United States and European Union continue to impose sanctions against Ukrainian and Russian individuals and entities as a result of the turmoil in Ukraine. On 11 December 2014, the US Senate passed the Ukraine Freedom Support Act of 2014 (S. 2828), which would significantly expand the scope of US economic sanctions against Russia if it became law. In addition, the US Treasury Department’s Office of Foreign Assets Control recently released additional guidance regarding the scope of existing US sanctions involving Ukraine and Russia.

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