Responding on Tuesday to “the beginning of a Russian invasion into Ukraine,” U.S. President Joseph Biden announced new sanctions on Russia, emphasizing that the United States is working in close concert with its allies and will act in unison with partners around the world to ...
March 3, 2022: By Oleg Ustenko, economic advisor to the president of Ukraine, and Simon Johnson, MIT. Contact:sjohnson@mit.edu. This post is taken from a one page memo, currently circulating. Sanctions imposed in response to Russia’s invasion of Ukraine arenot degrading Russian energy prod...
What's more, the military operation in Ukraine and the wide-ranging sanctions imposed on Russia have injected huge uncertainty in economic decision-making. The outcome remains to be seen, but the conflict has added to challenges faced by a global economy still recovering from the COVID...
on February 21, 2022, following decrees by Russia recognizing the independence of two regions of Ukraine, the Donetsk People's Republic (DNR) and Luhansk People's Republic (LNR) regions, the Biden administration issued a new Executive Order ...
In announcing the new initiative, the government further asserted that, since February 2022, the initiatives have been depriving Russia of more than $400 billion worth of assets and revenues. It also highlights that Russia derives about one-third of federal revenues via taxes on the oil...
If new international sanctions are imposed on Russia, the Swiss cabinet will analyse the situation and then decide on what steps to take, if any. "It follows that Swiss measures could not be taken simultaneously with those of other countries," the economy ministry said in response to a ...
OFSI has issued a monetary penalty to a property management for breaches of the financial sanctions regime imposed on Russia in response to its illegal invasion of Ukraine in 2022. As a result of these breaches, OFSI imposed a penalty of £15,000. The company did not challenge the penalty...
There is also a wind down period for goods listed in Part C of Annex XI until 16 January 2023 for contracts concluded before 17 December 2022. Steel products The exemption which applies to the import ban on steel products into the EU that originate in Russia or have been exported from Russ...
Also on March 2, OFAC released new guidance on the unprecedented sanctions imposed against the Russian Federation over the past two weeks. The guidance, which consists ofnewandupdatedFAQs, clarifies the scope of OFAC’s recent tranche of sanctions targeting Russia’s Central Bank and banking sector...
The U.S. government imposed roughly 600 new sanctions on Russia and its war machine in the largest single round of penalties since Russia's invasion of Ukraine on Feb. 24, 2022. The EU, for its part, added sanctions on several foreign companies over allegations that they have exported dual...