US Government Modifies Sanctions Against Russia/Crimea

December 21, 2016

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) imposed sanctions on additional Russian and Crimean persons while also issuing a general license authorizing certain transactions with a previously-sanctioned Russian federal institution responsible for reviewing major engineering and construction projects on December 20, 2016. The actions do not represent a significant expansion of U.S. sanctions against Russia/Crimea notwithstanding media speculation to the contrary.

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