In a Major Move, US Sanctions Key Russian Oligarchs, Officials, and Related Entities

April 06, 2018

The Trump Administration, on April 6, 2018, imposed sanctions on a number of Russian oligarchs with vast business interests, Russian government officials, officers of Russian state-owned enterprises, and related companies. The measures are intended to punish Russia for engaging in “a range of malign activity around the globe,” including activities in Ukraine, Syria, and cyberspace. The U.S. Government also issued two new general licenses to help minimize the impact of the new sanctions on U.S. persons and U.S. allies.

The new measures and related general licenses should be closely assessed by anyone conducting business in Russia. In particular, the general licenses only authorize activities to be conducted until May or June 2018 (depending on the specific activities at issue), and persons seeking to act under these authorities must quickly assess whether their contemplated activities would be covered and, if so, to execute the actions within the authorized time period.

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