On 24 February, a Commentary from Calwalader Cabinet explained the new sanctions, referring to a Factsheet from the White House. The sanctions targets include Russia’s largest bank, Sberbank, and its second-largest bank, VTB. They also target Belarus for its assistance in the invasion. 13 major companies designated include those critical to the Russian economy and 6 of Russia’s largest financial institutions. OFAC also issued 8 General Licenses OFAC issued eight general licenses authorising certain transactions including those involving international organizations and entities; the wind down of transactions involving certain blocked persons; and the rejection of transactions involving certain blocked persons. There are also accompanying FAQ. OFAC is also sanctioning 24 Belarusian individuals and entities due to Belarus’s support for, and facilitation of, the invasion – with the action focusing on Belarus’s defence sector and financial institutions.
https://home.treasury.gov/news/press-releases/jy0608
https://home.treasury.gov/news/press-releases/jy0607
https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220224
Any modest contributions for my time and ongoing expenses are welcomed! I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y
raytodd.blog 